The Company Continues to Expand Organically in
Strategic International Markets
CALGARY, AB, March 9, 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 U.K.
based subsidiary Blessed CBD has entered the German market with
online sales of its full spectrum CBD oils, gummies, capsules,
creams and balms via its official website at www.BlessedCBD.de.
Additional CBD product categories will be introduced for sale in
the German market in the coming months. Fulfillment will be
facilitated through High Tide's existing Amsterdam based warehouse.
The largest CBD market in Europe, Germany is poised to experience a significant
increase in demand for CBD products in the coming years. The growth
in demand for high quality CBD products is an international
phenomenon, with Fortune Business Insights projecting global
demand to reach US$56 billion by
2028, equating to a Compound Annual Growth Rate of
47%.1
"Today's news gives us a foothold in Germany which is poised to make up half of the
E.U. cannabis market by 2024, according to Prohibition Partners.
The move into Germany is part of
our ongoing strategy to diversify our revenue base by identifying
strategic opportunities and filling gaps in international cannabis
markets through the organic expansion of our brands and
products," said Raj Grover, President and Chief Executive
Officer of High Tide. "Our unique and diversified ecosystem allows
High Tide to drive revenue, EBITDA growth and market share gains
internationally, today, without having to rely on the potential of
federal cannabis legalization in the U.S. Our CBD business lines
provide us with high margin sales opportunities which allow us to
further expand market share in our core business of bricks and
mortar cannabis sales by enhancing our consolidated margin
profile," added Mr. Grover.
"With all of the recent cannabis-related developments in
Germany, I'm thrilled about
Blessed CBD's launch in Europe's
largest cannabis market. As promised, this is the first phase of
our blueprint to take Blessed CBD to emerging new international
markets, and to truly create a globally recognised CBD powerhouse,"
said Vithurs (V) Thiru, Founder of Blessed CBD. "As part of our
2022 expansion plans, and by leveraging High Tide's cross-platform
synergies, Blessed CBD will also be accelerating growth in
additional key markets such as the USA and other European countries. This is
going to be an exciting year at High Tide," added Mr. Thiru.
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1 Source: Fortune Business Insights
https://www.fortunebusinessinsights.com/cannabidiol-cbd-market-103215
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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 113 current locations spanning
Ontario, Alberta, Manitoba and Saskatchewan. High Tide was featured in the
third annual Report on Business Magazine's ranking of Canada's Top Growing Companies in 2021, and
was named as one of the top 10 performing diversified industries
stocks in the 2022 TSX Venture 50™. 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's
portfolio also includes retail kiosk and smart locker technology -
Fastendr™. 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.
ABOUT BLESSED CBD
Enigmaa Ltd., operating as Blessed CBD is one of the leading
online retailers of hemp-derived CBD products in the U.K. The
company provides a hemp-derived CBD marketplace with a wide variety
of high-quality products and formulas, affordable pricing, rapid
dependable shipping, and surprisingly personable customer service.
Blessed CBD has been featured as the best UK CBD brand in several
publications including The Mirror, Reader's Digest, and Maxim
Magazine.
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.