CALGARY,
AB, June 17, 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 it has confirmed that its Canna Cabana retail cannabis
stores in Ontario will begin sales
of Cabana Cannabis Co. branded shatter, THC gummies, pre-rolls, and
full-spectrum multicannabinoid tinctures and softgels in the fall
of 2022. This confirmation comes as a result of the licensed
producers with whom the Company has entered into white label
agreements having received approval from the Ontario Cannabis Store
("OCS") to list their initial Cabana Cannabis Co. branded
products as part of the OCS' Fall Product Call for 2022. The
initial lineup of Cabana Cannabis Co. products, and the licensed
producers who have respectively manufactured and received OCS
approval for such products, are as follows:
- From Heritage Cannabis Holdings ("Heritage") (CNSX:
CANN), an industry-leading and vertically-integrated cannabis
provider: Cabana Cannabis Co. Pink Hawaiian shatter, available in
1-gram packages.
- From Loosh Brands ("LOOSH"), a privately-held, next
generation edibles and finished goods manufacturer: Cabana Cannabis
Co. THC gummies, available in both Sunset Punch and Clementine
Cream flavours, and sold in packages of two soft chews at 5
milligrams of THC each.
- From Candre Cannabis Inc. ("Candre"), a privately-held
licensed producer of craft cannabis: Cabana Cannabis Co. Apricot
Jelly pre-rolls, available in 1.5-gram packages which will include
three pre-rolls at 0.5 grams each.
- From Emprise Canada ("Emprise"), a privately-held
licensed producer with 20 years of nutraceutical and pharmaceutical
manufacturing experience: Cabana Cannabis Co. full-spectrum
multicannabinoid (including CBD, CBN, CBG, CBC, and Delta-9 THC)
oil and softgels. The oil will be available in 30 millilitre
containers at a concentration of 12 milligrams per millilitre for
each of the five listed cannabinoids, while the softgels will be
available in packages of 120 softgels, each containing 3 milligrams
of each of the five listed cannabinoids.
All products in the OCS' Fall Product Call, including the above
Cabana Cannabis Co. SKUs are expected to become available for
retail sales in the months of October or November, 2022.
"I am very pleased to announce that we have a confirmed timeline
to begin sales of Cabana Cannabis Co. products in Ontario, which is Canada's largest provincial market for
cannabis. By drawing on the latest insights into consumer
preferences from our Cabanalytics data and working with our
contracted licensed producers through white label agreements, we
are introducing a lineup of the greatest hits of premium and
competitively-priced products that we know will be well-received by
our customers," said Raj Grover, President and Chief Executive
Officer of High Tide. "As I stated last week upon the initial
launch of the Cabana Cannabis Co. lineup in Saskatchewan, bringing these newly-developed
SKUs to market in multiple provinces is only the first step in High
Tide's white label strategy. We intend to continue leveraging our
Cabanalytics data to significantly expand the Cabana Cannabis Co.
catalogue moving forward, through white label contracts with
licensed producers. Over the long-term, we intend to have 20-30% of
our total bricks-and-mortar sales come from the expanded Cabana
Cannabis Co. product lineup, allowing us to enhance our
bricks-and-mortar retail margins while also directly serving the
preferences and needs of our customers. I once again want to
applaud the forward-thinking decision of the AGCO to allow for
white label partnerships in Ontario, which will enhance the customer
experience while also allowing for greater product differentiation,
benefitting retailers large and small," added Mr. Grover.
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 126 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, BlessedCBD.co.uk, and BlessedCBD.de, 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 TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) 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.