High Tide Opens new Canna Cabana Store on Edmonton’s Whyte Avenue, and Provides Timing for Release of First Quarter 2022 Financial Results and Webcast

Rhea-AI Summary

High Tide Inc. has opened its 112th retail cannabis store in Edmonton, Alberta, enhancing its footprint in Canada. This new location focuses on recreational cannabis sales and is strategically placed in a high-traffic area known for its local business community. The launch coincides with the anticipated private sector e-commerce and delivery services in Alberta, potentially increasing customer access to High Tide's offerings. The company plans to announce its first quarter financial results on March 17, 2022, which will provide insight into its operational performance.

Positive

• Opening of the 112th retail location enhances market presence.
• Strategically located in a high-traffic area, potentially boosting sales.
• Anticipated launch of private sector e-commerce in Alberta may increase customer access.

Negative

• None.

CALGARY, Alberta--(BUSINESS WIRE)-- 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 its Canna Cabana retail cannabis store located at 8927 82 (Whyte) Avenue in Edmonton, Alberta, has begun selling recreational cannabis products for adult use. This opening represents High Tide’s 112th branded retail location across Canada, and 61st in Alberta, selling recreational cannabis products and consumption accessories. This store will also be High Tide’s eighth to open in Edmonton, Alberta’s capital and second-largest city with a metropolitan population of 1.4 million people. The store is strategically situated on Whyte Avenue, a well-trafficked and popular east-west corridor, and is in the Bonnie Doon neighbourhood, which is well-known as the heart of Edmonton’s francophone community. It shares a retail complex with numerous popular local businesses, and is located close to both the Bonnie Doon Shopping Centre, a mall anchored by a national grocery retailer, and Campus Saint-Jean, the University of Alberta’s francophone campus.

“I am pleased to be announcing that we are bringing our innovative discount club model to even more Edmontonians today. Edmonton has amongst the youngest and highest-earning demographic profiles of major cities in Canada, and the stores that we have previously opened here have been very well-received,” said Raj Grover, President and Chief Executive Officer of High Tide. “Additionally, with the impending launch of private sector e-commerce and delivery in Alberta, our customers will soon have even more options for accessing our guaranteed low prices at all of our stores across the province. We will keep looking to expand our footprint in all provinces where we operate by strategically adding new organic locations, such as this one, as well as through accretive acquisitions. I will be sharing details on our progress and continued momentum as we release our first quarter financial results on March 17th,” added Mr. Grover.

RELEASE OF FIRST QUARTER 2022 RESULTS AND WEBCAST

The Company also announced today that it will release its financial and operational results for the quarter ended January 31, 2022, after financial markets close on Thursday, March 17, 2022. High Tide’s first quarter 2022 financial and operational results will be available on SEDAR and on the Company’s website at www.hightideinc.com/invest.

Following the release of its first quarter financial and operational results, High Tide will host a webcast with Raj Grover, President and Chief Executive Officer, and Rahim Kanji, Chief Financial Officer, at 5:30 PM Eastern Time on Thursday, March 17, 2022. The webcast and conference call will discuss High Tide’s first quarter 2022 financial and operational results, as well as the Company’s plans for the remainder of 2022.

Webcast Link for High Tide Earnings Event:
https://events.q4inc.com/attendee/372657250

Participants may pre-register for the webcast by clicking on the link above prior to the beginning of the live webcast. Three hours after the live webcast, a replay of the webcast will be available at the same link above.

Participants who wish to ask questions during the event may do so through the call-in line, the access information for which is as follows:

Canada Dial-In Number (Toll-Free): +1 833 950 0062
Canada Dial-In Number (Local): +1 226 828 7575
United States Dial-In Number (Toll-Free): +1 844 200 6205
United States Dial-In Number (Local): +1 646 904 5544
Dial-In Number for All Other Locations: +1 929 526 1599
Participant Access Code: 019155

*Participants will need to enter the participant access code before being met by a live operator*

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 112 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 Fastendr™ technology. 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, and BlessedCBD.co.uk, 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 TSXV 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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220304005092/en/

Media Inquiries

Omar Khan

Senior Vice President - Corporate and Public Affairs

omar@hightideinc.com

Investor Inquiries

Vahan Ajamian

Capital Markets Advisor

vahan@hightideinc.com

Source: High Tide Inc.

FAQ

What is the significance of High Tide's new store opening in Edmonton?

The new store is High Tide's 112th retail location, enhancing its presence in Canada and targeting a lucrative market.

When will High Tide release its first quarter 2022 financial results?

High Tide will release its first quarter financial results on March 17, 2022.

How many retail locations does High Tide have in Alberta?

High Tide has opened its 61st retail location in Alberta with this new store.

What is the strategic importance of High Tide's store location in Edmonton?

The Edmonton store is located in a busy area known for local businesses, potentially attracting more customers.