CALGARY, AB, Feb. 23, 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 Cabana Club loyalty program has recently
surpassed the milestone of 420,000 members. This milestone
represents Cabana Club membership growth of 71% since the Company
launched its discount club model on October
20, 2021. As a celebration of this achievement, High Tide
will be awarding an exclusive prize package to a randomly-selected
member of the Cabana Club on April 20,
2022 at 4:20 PM Mountain
Time.1 The prize package will consist of a car
valued at approximately $42,000, or a
cash equivalent, as well as an all-expenses paid roundtrip flight
to Calgary and dinner with Raj
Grover, the Company's President and Chief Executive Officer.
![High Tide Inc. February 23, 2022 (CNW Group/High Tide Inc.) High Tide Inc. February 23, 2022 (CNW Group/High Tide Inc.)](https://mma.prnewswire.com/media/1752340/High_Tide_Inc__High_Tide_Celebrates_420_000_Cabana_Club_Members.jpg)
"I am very excited to be able to make this announcement today.
As showcased by our impressive growth over the last four months,
Canadians have responded incredibly positively to our discount club
model, with over 175,000 members having signed up since the model's
launch, and the Cabana Club having recently surpassed the 420,000
member milestone," said Raj Grover, President and Chief Executive
Officer of High Tide. "Our Cabana Club remains free to join, and
until April 20th, 2022, any resident
of Canada (excluding Quebec residents) who is of legal age in the
province that they reside, who joins the Cabana Club, will become
eligible to participate in this exclusive giveaway. We owe our
continued success to our outstanding customers, as over 90% of our
daily transactions are now conducted by our loyal Cabana Club
members, and this is just one more way to say thank you to our
incredible Cabana Club community," added Mr. Grover. Official
contest rules can be found at:
https://cannacabana.com/blogs/news/cabana-club-giveaway-win-a-2022-toyota-prius-vip-trip.
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 111 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.
Forward-looking statements in this news release include statements
relating to: the the details regarding the Company's intention to
award an exclusive prize package to a randomly-selected member of
the Cabana Club; and the Company's strategy to extend and
strengthen its integrated value chain, while providing a complete
customer experience and maximizing shareholder value.
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 award the exclusive prize package on the terms and
conditions outlined in this news release, High Tide's ability
execute on its business plan and High Tide's ability to obtain 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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1 Please see contest rules for
further details at:
https://cannacabana.com/blogs/news/cabana-club-giveaway-win-a-2022-toyota-prius-vip-trip.
Please note that the Company reserves the right to withdraw, amend,
terminate or suspend in whole or in part this Contest at any time
without prior notice and without liability if the Company
determines that for any reason the Contest is not capable of being
conducted as planned. This Contest Process will be subject to
compliance with the Cannabis Act and associated
Regulations.
|
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SOURCE High Tide Inc.