High Tide Announces Purchases of Shares by Insiders

Rhea-AI Summary

High Tide Inc. (NASDAQ: HITI) announced that its officers, directors, and consultants acquired 258,921 common shares from March 24 to March 29 at an average price of $1.59 per share. This move signifies their confidence in the company's intrinsic value and growth prospects. Following these transactions, insiders and consultants now hold approximately 9.67% of High Tide's outstanding shares. High Tide operates a diversified cannabis enterprise, including retail operations through Canna Cabana, and has been recognized for growth by various publications.

Positive

• Insider purchases totaling 258,921 common shares highlight confidence in the company's long-term prospects.
• Insiders and consultants now control 9.67% of outstanding shares, indicating commitment to the company.
• High Tide has been recognized as one of Canada's Top Growing Companies for two consecutive years.

Negative

• None.

CALGARY, Alberta--(BUSINESS WIRE)-- 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 that certain officers, directors, and consultants led by the Company’s President and Chief Executive Officer, in the aggregate, acquired 258,921 common shares in the capital of High Tide (“Common Shares”) on the open market between March 24 and March 29 at an average price of $1.59 per Common Share. The purchase of Common Shares by certain officers, directors, and consultants reflects confidence in the intrinsic value of the stock and the near-term and long-term growth prospects of the Company. With these purchases, insiders and certain consultants, in the aggregate, now own or control 7,222,342 Common Shares, representing approximately 9.67% of the Company’s issued and outstanding Common Shares as of March 29, 2023.

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 151 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in North America.

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 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 Canadian 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 Company’s ability to deliver real-world value across every component of cannabis, and the near-term and long-term growth prospects 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 forward-looking statements in this press release 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 risk 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 source version on businesswire.com: https://www.businesswire.com/news/home/20230330005155/en/

Media Inquiries

Omar Khan

Chief Communications and Public Affairs Officer

High Tide Inc.

omar@hightideinc.com

403-770-3080



Investor Inquiries

Vahan Ajamian

Capital Markets Advisor

High Tide Inc.

vahan@hightideinc.com

Source: High Tide Inc.

FAQ

What recent insider activity occurred with High Tide (HITI)?

High Tide's officers, directors, and consultants purchased 258,921 common shares between March 24 and March 29 at an average price of $1.59.

What percentage of shares do insiders of High Tide (HITI) currently own?

Insiders and certain consultants now own approximately 9.67% of High Tide's issued and outstanding common shares.

What recognition has High Tide (HITI) received for its performance?

High Tide was named one of Canada's Top Growing Companies in both 2021 and 2022, and it ranked number one in the retail category on the Financial Times’ list of Americas’ Fastest Growing Companies for 2023.