UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2023
Commission File Number: 001-40258
HIGH TIDE INC.
(Registrant)
11127 - 15 Street N.E., Unit 112
Calgary, Alberta
Canada T3K 2M4
(Address of Principal Executive Offices)
Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
HIGH TIDE INC.
|
|
|
|
|
(Registrant)
|
|
|
|
|
Date: December 28, 2023
|
|
|
|
By
|
|
/s/ Raj Grover
|
|
|
|
|
|
|
Raj Grover
|
|
|
|
|
|
|
President and Chief Executive Officer
|
|
|
|
|
|
|
|
EXHIBIT INDEX
Exhibit
99.1
![](https://www.sec.gov/Archives/edgar/data/1847409/000127956923001586/logo.jpg)
High Tide to Open First Canna Cabana in Mississauga,
Ontario
The Company Enters Ontario's Third-Largest City
After Spearheading Efforts to Convince City Council to Opt-Into Cannabis Retail Sales.
CALGARY, AB, Dec. 28, 2023 /CNW/ – High
Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward
enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis
store located at 5700 Mavis Road, Mississauga, Ontario will begin selling recreational cannabis products and consumption accessories for
adult use tomorrow. This opening will mark High Tide's 162nd Canna Cabana branded location in Canada, the 54th in the province of Ontario
and the first in Mississauga.
In April 2023, High Tide spearheaded efforts, which
resulted in Mississauga's City Council approving a motion to allow legal retail cannabis stores to open within its borders. As the third-largest
municipality in Ontario and seventh-largest in Canada, this brand-new market is home to over 800,000 residents and affords an excellent
growth opportunity to onboard new ELITE and Cabana Club members. This Canna Cabana is opening right next to the entrance of Heartland
Town Centre, a major retail power centre and one of the largest in the province. This store is also within walking distance of an international
member-only grocery and retail chain, a major Canadian home improvement and automotive service retailer and other high-traffic big-box
retail stores. In addition, the closest legal cannabis retail competitor is over 2 kilometres away.
"We ended 2022 with a flurry of store openings,
and I am thrilled that the close of 2023 is much of the same. I have eagerly awaited the opening of our first Mississauga store, which
I am confident will be a top performer based on the success we've had elsewhere in the Region of Peel as well as its premier location,
which is steps away from Heartland Town Centre and situated among national retail chains. This location is yet another example of our
team's relentless dedication to securing the best possible lease opportunities," said Raj Grover, Founder and Chief Executive Officer
of High Tide.
"2023 was also a challenging year for many Canadian
cannabis retailers, some of whom were forced into CCAA or branched off into other highly regulated markets. Unlike some of these peers,
we have remained focused on our core cannabis business while maintaining our focus on operational excellence and retail innovation through
our highly successful discount club model catering to over 1.2 million ELITE and Cabana Club members. I look forward to all that 2024
holds for High Tide as we set our sights on further expansion by celebrating another 20 to 30 new store openings, focused on Ontario,
Canada's largest province," added Mr. Grover
ABOUT HIGH TIDE
High Tide, Inc. is the leading community-grown, retail-forward
cannabis enterprise engineered to unleash the full value of the world's most powerful plant. High Tide (HITI) is uniquely-built around
the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:
Bricks & Mortar Retail: Canna Cabana™
is the largest non-franchised cannabis retail chain in Canada, with 162 current locations spanning British Columbia, Alberta, Saskatchewan,
Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in North America.
Retail Innovation: Fastendr™ is a unique
and fully automated technology that integrates retail kiosks and smart lockers to facilitate a better buying experience through browsing,
ordering and pickup.
E-commerce Platforms: High Tide operates a
suite of leading accessory sites across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.
CBD: High Tide continues to cultivate the possibilities
of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide keeps that
cannabis category stocked with wholesale solutions via Valiant™.
Licensing: High Tide continues to push cannabis
culture forward through fresh partnerships and license agreements under the Famous Brand™ name.
High Tide consistently moves ahead of the currents,
having been named one of Canada's Top Growing Companies in 2021, 2022 and 2023 by the Globe and Mail's Report on Business Magazine and
was ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023. To discover
the full impact of High Tide, visit www.hightideinc.com. For investment performance, don't miss the High Tide profile pages on SEDAR+
and EDGAR.
Neither the TSX Venture Exchange 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
This press release may contain "forward-looking
information" and "forward-looking statements within the meaning of applicable securities legislation. The use of any of the
words "could", "intend", "expect", "believe", "will", "projected", "estimated"
and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information
and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements
herein include, but are not limited to, statements regarding: the timing of our new location beginning to sell recreational cannabis products
and consumption accessories for adult use, the expected benefits of the store location, and our commitment to opening future stores in
prime power centre locations, the number of store openings expected in 2024, and the expansion of our discount club model. Readers are
cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those
contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such
statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject
to numerous risks and uncertainties, certain of which are beyond the Company's control, including but not limited to the risk factors
discussed under the heading "Non-Exhaustive List of Risk Factors" in Schedule A to our current annual information form, and
elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca
and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly
qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates
or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking
information, except as required by applicable law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/high-tide-to-open-first-canna-cabana-in-mississauga-ontario-302022095.html
SOURCE High Tide Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2023/28/c3812.html
%CIK: 0001847409
For further information: CONTACT INFORMATION : Media Inquiries, Omar
Khan, Chief Communications and Public Affairs Officer, High Tide Inc., omar@hightideinc.com, 403-770-3080; Investor Inquiries, Vahan Ajamian,
Capital Markets Advisor, High Tide Inc., vahan@hightideinc.com
CO: High Tide Inc.
CNW 06:00e 28-DEC-23
High Tide (NASDAQ:HITI)
Historical Stock Chart
From Jul 2024 to Aug 2024
High Tide (NASDAQ:HITI)
Historical Stock Chart
From Aug 2023 to Aug 2024