High Tide Subsidiary Blessed CBD Launches Sales of Hemp-derived CBD Products on Amazon UK
High Tide has announced that its subsidiary, Blessed CBD, has launched sales of premium hemp-derived CBD products on Amazon UK, including gummies, capsules, and balms. This move broadens Blessed's reach and enhances the company's e-commerce presence. All products are available for next-day delivery via Amazon Prime. Blessed CBD was invited by Amazon to join the platform following compliance checks and Novel Foods Authorization from the UK's Food Standards Agency. Raj Grover, CEO, emphasized this as a growth opportunity for both Blessed and High Tide.
- Expansion of sales channels with Blessed CBD products on Amazon UK.
- Increased market accessibility and consumer reach for Blessed CBD.
- Products available for next-day delivery via Amazon Prime.
- None.
CALGARY, AB, July 11, 2022 /PRNewswire/ - 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 subsidiary, Blessed CBD ("Blessed"), has begun sales of its premium hemp-derived CBD products on Amazon in the United Kingdom ("Amazon UK"). A range of Blessed CBD products, including gummies, capsules, and balms are now available on Amazon UK, and the remaining Blessed CBD products will be listed in the coming days. All Blessed products qualify for next-day delivery through Amazon Prime. Blessed also intends to list any future SKUs that it may add to its product lineup on the Amazon UK platform.
As with all other CBD retailers who are listed on Amazon UK, Blessed was invited by Amazon themselves to join the platform as a seller of CBD. Retailers that sell CBD through Amazon UK are required to have received Novel Foods Authorization from the United Kingdom's Food Standards Agency as well as pass compliance checks conducted by Amazon.
"The listing of Blessed CBD products on Amazon UK represents a fantastic growth opportunity for Blessed and High Tide. Amazon is unmatched as a global online marketplace, and by joining their platform in the UK, we are broadening Blessed's reach and making our products accessible for many more consumers," said Raj Grover, President and Chief Executive Officer of High Tide. "Today's announcement is another example of the strength of High Tide's diversified international cannabis ecosystem, as we are able to keep growing our presence and customer bases even in jurisdictions where cannabis is not yet legal. As we further execute on our international strategy, we will continue to explore new and innovative distribution channels for our products, as well as additional markets where we can expand into through our existing and rapidly-expanding ancillary cannabis brand portfolio," added Mr. Grover.
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 127 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 technology – Fastendr™. 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, BlessedCBD.co.uk, and BlessedCBD.de, 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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.
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.
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SOURCE High Tide Inc.
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