CALGARY,
AB, July 21, 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, is
pleased to announce that in order to replace its prior base shelf
prospectus that expired on May 22,
2023, it has filed a preliminary short form base shelf
prospectus (the "Prospectus") to provide the Company with
the flexibility to take advantage of financing opportunities and
favourable market conditions, if and when needed, during the
25-month period that the Prospectus, once made final, remains
effective (the "Effective Period").
The Prospectus has been filed in each of the provinces and
territories in Canada. The
Prospectus, when final and effective, will enable the Company to
offer, issue and sell, from time to time: common shares, warrants,
units, subscription receipts, debt securities, convertible
securities, or any combination of such securities (collectively,
the "Securities") for up to an aggregate offering price of
C$100,000,000 (or its equivalent), in
one or more transactions during the Effective Period.
The Company has also filed a corresponding shelf registration
statement relating to the Securities with the United States of
America Securities and Exchange Commission (the "SEC") under
the U.S. Canada Multijurisdictional Disclosure System.
The Company may also use the Prospectus in connection with an
"at-the-market distribution" in accordance with applicable
securities laws, which would permit securities to be sold on behalf
of the Company through the TSX Venture Exchange (the
"TSXV"), the Nasdaq Stock Exchange, (or other existing
trading markets) as further described in the applicable prospectus
supplement. To date, no agreement has been entered into with
respect to such a distribution.
The Company may use the net proceeds from the sale of Securities
for general corporate purposes, capital projects, internal
expansion, or for the acquisition of other businesses, assets or
securities by the Company or one of its subsidiaries.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the Securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under securities laws of any such jurisdiction. If
any Securities are offered under the Prospectus, the terms of any
such Securities and the intended use of the net proceeds resulting
from such offering would be established at the time of any offering
and would be described in a prospectus supplement filed with the
applicable securities regulatory authorities at the time of such
offering and would be made available by High Tide.
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 approval of the preliminary and final
prospectus and registration statement, future financing
opportunities, and market conditions. 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/high-tide-files-preliminary-base-shelf-prospectus-to-replace-expired-base-shelf-prospectus-301881494.html
SOURCE High Tide Inc.