CALGARY,
AB, July 7, 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 the voting results from its annual general and
special meeting of shareholders of the Company held on Thursday, July 6, 2023 (the "Meeting").
Each nominee listed in the Company's management information
circular dated May 26, 2023 was
elected as a director of the Company.
Each of the following five nominees proposed by management was
elected as a director of the Company, the results of such vote were
as follows:
Nominee
|
Votes
For:
|
Votes
Withheld:
|
Number
|
%
|
Number
|
%
|
Harkirat ("Raj")
Grover
|
10,234,663
|
99.45
|
56,222
|
0.55
|
Nitin
Kaushal
|
10,122,667
|
98.37
|
118,988
|
1.63
|
Arthur Kwan
|
9,953,829
|
96.72
|
337,056
|
3.28
|
Christian
Sinclair
|
10,243,410
|
99.54
|
47,475
|
0.46
|
Andrea
Elliott
|
10,042,599
|
97.59
|
248,286
|
2.41
|
In addition, at the Meeting, shareholders approved: (i) fixing
the board of directors (the "Board") at five; (ii)
reappointing Ernst & Young LLP as the Company's auditor for the
ensuing year and authorizing the board to fix their compensation;
(iii) the adoption of an advance notice By-Law. The results of such
votes were as follows:
Resolution
|
Votes
For:
|
Votes
Withheld:
|
Votes
Against:
|
Number
|
%
|
Number
|
%
|
Number
|
%
|
Fixing the Board at
Five
|
10,239,703
|
99.50
|
-
|
-
|
51,182
|
0.50
|
Reappointment of
Ernst
& Young LLP as the
Auditors
|
10,269,230
|
99.79
|
21,655
|
0.21
|
-
|
-
|
Approval of an
Advance
Notice By-Law
|
10,108,298
|
98.23
|
-
|
-
|
182,587
|
1.77
|
Advance Notice By-Law
High Tide also announced that its board of directors (the
"Board") has approved, and its shareholders have confirmed
at the Meeting, the adoption of an Advance Notice By-Law (the
"By-Law") for the purposes of (i) facilitating an orderly
and efficient shareholder meeting process; (ii) ensuring that all
shareholders of the Company receive adequate notice of nominations
for the Board and sufficient information regarding all director
nominees; and (iii) allowing shareholders to register an informed
vote after having been afforded reasonable time for appropriate
deliberation.
The By-Law establishes a framework for providing advance notice
to High Tide in circumstances where nominations of persons for
election to the Board are made by shareholders of High Tide. The
By-Law fixes deadlines by which shareholders of record of High Tide
must submit director nominations prior to any meeting of
shareholders and sets forth the information a shareholder must
include in the notice to High Tide for an effective nomination to
occur. No person will be eligible for election as a director of
High Tide unless nominated in accordance with the provisions of the
By-Law.
In the case of an annual meeting of shareholders ("Annual
Meeting"), the Notice must be delivered to the Company no fewer
than 30 days and no more than 65 days prior to the date of the
Annual Meeting (except that if the Annual Meeting is called for a
date that is less than 50 days after the first public filing or
announcement of the date of the Annual Meeting (the "Notice
Date"), the Notice must be delivered no more than 10 days after
the Notice Date). In the case of a special meeting of shareholders
(which is not also an annual meeting) called for the purpose of
electing directors (whether or not called for other purposes), the
Notice must be delivered to the Company not later than 15 days
following the day on which the first public filing or announcement
of the date of the special meeting was made.
The By-Law is effective immediately but is subject to final
approval by the TSX Venture Exchange. The full text of the By-Law
is available under the Company's SEDAR profile at www.sedar.com and
with the SEC at www.sec.gov.
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 153 current locations spanning
British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana
became the first cannabis discount club retailer in Canada.
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 both 2021 and 2022 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 receipt of final TSXV approval of the
By-Law. 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.sedar.com 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.
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SOURCE High Tide Inc.