CALGARY, AB, Nov. 25, 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, is
pleased to announce that its wholly-owned subsidiary, Valiant
Distribution Canada Inc. ("Valiant"), has signed a trademark
license agreement with JW Homegoods, LLC to use the "Jane West" and
"JW" trademarks for a term of 2 years (the "Jane West License").
Jane West is a high-profile American
cannabis activist, influencer and founder of her global lifestyle
brand. The Jane West License grants Valiant the right to
manufacture, promote, advertise, distribute and sell certain types
of consumption accessories in Canada, the United
States, the United Kingdom
and the European Union.
The royalty-based merchandising agreement includes the
production of vaporizers, glass filtration devices, grinders and
rolling trays, among other items. "We are excited to launch
Jane West-branded products into the
international legal smoke shop market as soon as possible,
following the success of her established glassware line that has
been widely distributed across North
America," said Andy Palalas,
Chief Revenue Officer of High Tide. "As the founder of Women Grow,
creator of her popular glassware line and developer of a rapidly
growing set of packaging partnerships, Jane is a visionary and we
will be privileged to work alongside her to develop her next line
of consumption accessories," added Mr. Palalas. Under its wholesale
business segment, High Tide expects to design and distribute these
new products as part of the established Famous Brandz line of
consumption accessories, which currently includes the brands of
Snoop Dogg Pounds, Cheech and Chong's Up In Smoke, Trailer Park
Boys, Jay and Silent Bob, Guns N' Roses and more.
Furthermore, the Company has also approved the grant of
16,200,000 stock options to purchase Shares to certain directors,
officers, consultants and employees. The options have an exercise
price of $0.20 per common share and
have a term of 3 years. Subject to the terms and conditions of the
Company's Stock Option Plan, which was approved by shareholders of
the Company at its annual general and special meeting held on
July 24, 2019, the options shall
vest: (i) 25% on the grant date; (ii) 25% on the first anniversary
of the grant date; (iii) 25% on the date that is 18 months
following the grant date; and (iv) 25% on the date that is the
second anniversary of the grant date.
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
consumption 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.