High Tide Announces Appointment of New Chief Financial Officer
High Tide Inc. announced the appointment of Mayank Mahajan as the new Chief Financial Officer, bringing extensive financial expertise across various sectors. The company also granted stock options and restricted share units to officers, directors, and employees. The appointment aims to drive sustainable growth, improve financial accountability, and enhance corporate governance.
Appointment of a highly experienced Chief Financial Officer with a diverse background in financial services, technology, and manufacturing.
Mayank Mahajan's leadership skills and strategic financial acumen expected to contribute to the company's long-term success and growth.
Granting of 20,000 stock options and 591,772 restricted share units to officers, directors, and employees to incentivize and retain talent.
Focus on evolving and responsibly managing growth to maintain industry leadership in the rapidly changing cannabis business landscape.
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Mr. Mahajan brings an exceptional range of expertise from a career in financial services, technology, manufacturing, trading and leasing that spans more than 15 years. Among his more notable accomplishments, he has overseen M&A and business integration, debt and equity raises, contract negotiations, and led corporate governance initiatives. Mr. Mahajan has built global accounting teams while re-engineering processes to improve accountability and implementing best practices in ERP, SOX and internal controls.
Before joining High Tide, Mr. Mahajan worked with Everyday People Financial Corp, Metamaterial Inc., Jubilant Bhartiya Group (
"Mayank will be a great addition to our team with his exceptional leadership skills, strategic financial acumen and forward-thinking mindset. His collaborative approach will help bridge the gap across all facets of our organization and will be instrumental in positioning High Tide for sustainable, long-term growth and success," said Raj Grover, Founder and Chief Executive Officer of High Tide.
"High Tide is fortunate to have achieved significant growth over the past few years, and our team recognizes that we must continually evolve to responsibly manage this growth and retain our industry leadership. Having Mayank's strong background in financial excellence as we adapt to the rapidly evolving cannabis business landscape will prove a critical asset to expand the size, scope and reach of our company. I'm very excited to welcome Mayank to our High Tide Family," added Mr. Grover.
The Company also announced that its Board of Directors has approved the grant of 20,000 stock options and 591,772 restricted share units ("RSUs") to officers, directors and employees, of the Company pursuant to the Company's Omnibus Plan, which became effective on June 2, 2022. Each RSU entitles the holder to acquire one common share of the Company upon vesting.
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 and is the second-largest cannabis retailer in
Bricks & Mortar Retail: Canna Cabana™ is the largest non-franchised cannabis retail chain in
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.
Brands: High Tide's industry-leading and consumer-facing brand roster includes Queen of Bud, Cabana Cannabis Co, Daily High Club, Vodka Glass, Puff Puff Pass, Dopezilla, Atomik, Silipipe, Evolution and more.
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 Brandz™ name.
High Tide consistently moves ahead of the currents, having been named one of
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.
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 long-term growth of the company. 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.sedarplus.ca 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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1As reported by ATB Capital Markets based on store counts as of February 8, 2024 | |
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SOURCE High Tide Inc.
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