CALGARY, AB, Jan. 26, 2022
/CNW/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq:
HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis
company with bricks-and-mortar as well as global e-commerce assets,
announced today that its Canna Cabana retail cannabis store located
at 3710 Eastgate Drive in Regina,
Saskatchewan (the "Eastgate Drive store") has begun selling
recreational cannabis products for adult use. The Company further
announced that its Canna Cabana retail cannabis store located at
970 Albert Street, also in Regina,
Saskatchewan (the "Albert Street store"), will begin selling
recreational cannabis products for adult use on January 27, 2022. These openings will bring High
Tide's total number of branded retail locations across Canada to 109, and 9 in Saskatchewan, selling recreational cannabis
products and consumption accessories. These stores will also be the
fourth and fifth Canna Cabana locations, respectively, to open in
Regina, which is Saskatchewan's capital and second-largest
city. The Eastgate Drive store is well-situated as part of a major
commercial and retail corridor that is centered on Victoria Avenue
and features a wide range of well-trafficked big box stores in the
vicinity. The Albert Street store is located on a well-utilized
north-south roadway in Regina's
North Central neighbourhood which sees a daily average of over
31,000 vehicles, and is easily accessible from adjacent residential
and employment districts.
![High Tide Inc. January 26, 2022 (CNW Group/High Tide Inc.) High Tide Inc. January 26, 2022 (CNW Group/High Tide Inc.)](https://mma.prnewswire.com/media/1734202/High_Tide_Inc__High_Tide_Announces_Opening_of_Two_New_Canna_Caba.jpg)
"I am pleased to announce the next phase of our continued
expansion and investment in Regina's cannabis market, which will make our
innovative discount club model accessible for many more Reginans,"
said Raj Grover, President and Chief Executive Officer of High
Tide. "This month alone, we have more-than-doubled our presence in
Regina from two Canna Cabana
locations to five. With these openings, we have also kept our
commitment to open all of the Regina retail portfolio locations that we
acquired in August of 2021. This growth in Regina is just one part of our Canada-wide expansion strategy for 2022,
through which we plan to reach 150 retail locations by investing in
promising markets across the country," added Mr. Grover
ISSUANCE OF SHARES
Furthermore, High Tide intends to pay an aggregate of
$100,000 in consulting fees (the
"Consulting Fees") to two (2) consultants as consideration for
services provided by the consultants pertaining to certain
commercial premises for development. High Tide intends to pay the
Consulting Fee through the issuance of common share of the Company
(the "Shares), pending Exchange approval. The deemed price of the
Shares shall be based on the 10-day volume weighted average price
of the Shares on the Exchange.
GRANT OF OPTIONS
Furthermore, High Tide granted 35,000 stock options (the
"Options") to certain consultants, that fully vest over a two (2)
year period and are exercisable for a period of three (3)
years.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with
bricks-and-mortar as well as global e-commerce assets. The Company
is the largest Canadian retailer of recreational cannabis as
measured by revenue, with 109 current locations spanning
Ontario, Alberta, Manitoba and Saskatchewan, and was featured in the third
annual Report on Business Magazine's ranking of Canada's Top Growing Companies in 2021. The
Company is also North America's
first and only cannabis discount club retailer, featuring Canna
Cabana, Meta Cannabis Co., and Meta Cannabis Supply Co. banners,
with additional locations under development across the country.
High Tide has been serving consumers for over a decade through its
established e-commerce platforms including Grasscity.com,
Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more
recently in the hemp-derived CBD space through Nuleafnaturals.com,
FABCBD.com, and BlessedCBD.co.uk, as well as 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.
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.
For more information about High Tide Inc., please visit
www.hightideinc.com, its profile page on SEDAR at www.sedar.com,
and its profile page on EDGAR at www.sec.gov.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking
information or forward-looking statements. Such information and
statements, referred to herein as "forward-looking statements" are
made as of the date of this news release or as of the date of the
effective date of information described in this news release, as
applicable. Forward-looking statements relate to future events or
future performance and reflect current estimates, predictions,
expectations or beliefs regarding future events. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (generally, forward-looking
statements can be identified by use of words such as "outlook",
"expects", "intend", "forecasts", "anticipates", "plans",
"projects", "estimates", "envisages, "assumes", "needs",
"strategy", "goals", "objectives", or variations thereof, or
stating that certain actions, events or results "may", "can",
"could", "would", "might", or "will" be taken, occur or be
achieved, or the negative of any of these terms or similar
expressions, and other similar terminology) are not statements of
historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that
may prove to be incorrect, including but not limited to the ability
of High Tide to execute on its business plan and that High Tide
will receive one or multiple licenses from Alberta Gaming, Liquor
& Cannabis, British Columbia's
Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority
of Manitoba, Alcohol and Gaming
Commission of Ontario or the
Saskatchewan Liquor and Gaming Authority permitting it to carry on
its Canna Cabana Inc. business. High Tide considers these
assumptions to be reasonable in the circumstances. However, there
can be no assurance that any one or more of the government,
industry, market, operational or financial targets as set out
herein will be achieved. Inherent in the forward-looking statements
are known and unknown risks, uncertainties and other factors that
could cause actual results, performance or achievements, or
industry results, to differ materially from any results,
performance or achievements expressed or implied by such
forward-looking statements.
The forward–looking statements contained herein are current
as of the date of this news release. Except as required by law,
High Tide does not have any obligation to advise any person if it
becomes aware of any inaccuracy in or omission from any
forward-looking statement, nor does it intend, or assume any
obligation, to update or revise these forward-looking statements to
reflect new events or circumstances. Any and all forward-looking
statements included in this news release are expressly qualified by
this cautionary statement, and except as otherwise indicated, are
made as of the date of this news release.
This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in
the United States of America. The
securities have not been and will not be registered under the
United States Securities Act of 1933 (the "1933 Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons (as
defined in the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such
registration is available.
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SOURCE High Tide Inc.