CALGARY, AB, Nov. 23, 2020 /CNW/ - High Tide Inc.
("High Tide" or the "Company") (TSXV: HITI) (OTCQB:
HITIF) (FRA: 2LY), a retail-focused cannabis corporation enhanced
by the manufacturing and distribution of consumption accessories,
today announced that it is fully and immediately compliant with the
order issued by the Province of Ontario to place Toronto and Peel under the lockdown category
of the government's tiered framework for COVID-19 restrictions. In
Toronto, the affected locations
have been adjusted to offer only curbside pickup as of 12:01 AM on
Monday, November 23, 2020 with
delivery services to follow shortly thereafter for the announced
28-day period. High Tide currently operates 60 other retail
cannabis stores across Canada and
it does not have any locations in the Peel Region.
"Throughout the pandemic, we have remained agile in our
operations to prioritize the needs of our customers across the
country in a safe and compliant manner. Our curbside pickup
services available at CannaCabana.com and MetaCannabis.com will
continue to provide our Toronto-based customers with access to our
full catalog of cannabis products throughout the 28-day lockdown,"
said Raj Grover, President and Chief Executive Officer of High
Tide. "As a diversified cannabis company with 66 retail locations
in four provinces, a robust e-commerce portfolio and extensive
operations in the US and abroad, we expect the lockdown to
minimally impact our business. We will continue to optimize our
business and are taking appropriate action to manage our operating
costs accordingly," added Mr. Grover.
To reiterate its previous statements regarding the pandemic
issued earlier in 2020, High Tide has continued to respond to
COVID-19 with changes to internal business practices consistent
with the guidelines of public health authorities. Since inception,
High Tide's purpose has been to serve cannabis enthusiasts and a
significant part of that commitment is ensuring that the Company is
putting the safety of its customers and employees first. The
Company has implemented significant measures to protect the health
and wellbeing of these valued individuals. High Tide continues to
monitor the situation closely while keeping its retail locations
and wholesale facilities operating, where permitted.
About High Tide
High Tide is a retail-focused cannabis company enhanced by the
manufacturing and distribution of consumption accessories. The
Company is the largest Canadian retailer of recreational cannabis
as measured by revenue, with 66 current locations spanning
Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment
features the Canna Cabana, KushBar, Meta Cannabis Co., Meta
Cannabis Supply Co. and NewLeaf Cannabis banners, with additional
locations under development across the country. High Tide has been
serving consumers for over a decade through its numerous lifestyle
accessory businesses including e-commerce platforms Grasscity.com
and CBDcity.com, and its wholesale distribution division under
Valiant Distribution, including the licensed entertainment product
manufacturer Famous Brandz. High Tide's strategy as a parent
company is to extend and strengthen its integrated value chain,
while providing a complete customer experience and maximizing
shareholder value. Key industry investors in High Tide include
Aphria Inc. (TSX:APHA) (NYSE:APHA) and Aurora Cannabis Inc.
(NYSE:ACB) (TSX:ACB).
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information in this news release constitutes
forward-looking statements under applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as "may", "should", "anticipate", "expect", "potential",
"believe", "intend" or the negative of these terms and similar
expressions. Forward-looking statements in this news release are
based on certain assumptions made by High Tide. While High Tide
considers these assumptions to be reasonable, based on information
currently available, they may prove to be incorrect. Readers are
cautioned not to place undue reliance on forward-looking
statements. Forward-looking statements also necessarily involve
known and unknown risks, including, without limitation, risks
associated with general economic conditions; adverse industry
events; marketing costs; loss of markets; future legislative
and regulatory developments involving the retail cannabis markets;
inability to access sufficient capital from internal and external
sources, and/or inability to access sufficient capital on
favourable terms; the retail cannabis industries generally; income
tax and regulatory matters; the ability of High Tide to implement
its business strategy; competition; currency and interest rate
fluctuations; the COVID-19 pandemic nationally and globally and the
response of governments to the COVID-19 pandemic in respect of the
operation of retail stores and other risks.
Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those
anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement and reflect our
expectations as of the date hereof, and thus are subject to change
thereafter. High Tide disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law. Factors that could cause anticipated opportunities
and actual results to differ materially include, but are not
limited to, matters referred to above and elsewhere in High Tide's
public filings and material change reports which are and will be
available on SEDAR.
SOURCE High Tide Inc.