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High Tide Inc. (HITI) operates as a vertically-integrated company in the Canadian cannabis market, focusing on the design, manufacture, and distribution of cannabis accessories and alternative lifestyle products. High Tide also engages in the retailing of cannabis products through its extensive network of retail stores and online platforms.
Founded in 2009 and headquartered in Calgary, Canada, High Tide initially went by the name High Tide Ventures Inc. before rebranding to High Tide Inc. in October 2018. The company has made significant strides in the industry, particularly with its Canna Cabana retail cannabis stores. As of May 2024, High Tide operates 172 Canna Cabana locations, making it the largest non-franchised cannabis retail chain in Canada.
The company's business is divided into two main segments: retail and wholesale. On the retail front, High Tide's Canna Cabana locations offer a unique cannabis discount club model. This model was first introduced in North America in 2021 and has since become a significant revenue driver. The company's retail innovation also extends to its Fastendr™ technology, which integrates retail kiosks and smart lockers to enhance the customer shopping experience.
High Tide's e-commerce operations are equally robust, with a suite of leading accessory sites like Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com. These platforms have seen substantial growth, especially during significant cannabis events like '4/20'.
In the wholesale segment, High Tide supplies the cannabis category through Valiant™, ensuring that retail stores and e-commerce platforms are well-stocked with high-quality products. The company also engages in licensing through Famous Brandz™, continually pushing the boundaries of cannabis culture with innovative products and strategic partnerships.
High Tide has earned numerous accolades, including being named one of Canada’s Top Growing Companies by the Globe and Mail's Report on Business Magazine for three consecutive years (2021-2023). The company was also listed as one of the top 10 performing diversified industries stocks in the 2022 and 2024 TSX Venture 50.
Recently, High Tide has been active in expanding its market reach and influence. The company welcomed the start of cannabis legalization in Germany and signed a non-binding letter of intent with the Berlin-based Sanity Group to leverage synergies in the German market. Additionally, High Tide continues to make strategic moves in the U.S. market, especially with the potential reclassification of cannabis to a Schedule III substance, which could open new avenues for business growth.
For the latest updates, High Tide has announced its upcoming participation in key industry events like the International Cannabis Business Conference in Berlin and the Benzinga Cannabis Capital Conference in Hollywood, Florida. The company will also release its financial and operational results for the quarter ended April 30, 2024, on June 13, 2024, followed by a webcast to discuss these results.
For more information, visit www.hightideinc.com, and for investment performance, check out the High Tide profile pages on SEDAR+ and EDGAR.
High Tide Inc. (HITI) has launched Cabana Elite, a paid membership program aimed at enhancing customer loyalty within its Cabana Club. The program offers exclusive benefits like discounts on products and services, with the first year priced at just $2.50 per month to encourage adoption. The existing Cabana Club boasts over 860,000 members, making it Canada’s largest cannabis loyalty program. The initiative is expected to drive revenue growth and strengthen High Tide's position in the retail cannabis market.
High Tide has launched a new paid membership program called Cabana Elite, designed for its existing Cabana Club members. This program offers exclusive benefits, including discounts on products and flash sales. For a limited time, the membership fee is reduced to $2.50 per month, a 50% discount. With over 860,000 current Cabana Club members, this initiative aims to enhance customer loyalty and expand the customer base. Additionally, High Tide has granted 25,000 stock options to employees as part of its incentive plan.
High Tide Inc. (NASDAQ: HITI) has become the top revenue-generating cannabis company in Canada, according to New Cannabis Ventures. The Company opened its 142nd Canna Cabana location in Windsor, Ontario, enhancing its retail presence. Key metrics include quarterly sales of
High Tide Inc. (HITI) has announced that its Colorado-based subsidiary, NuLeaf Naturals, launched Full Spectrum Multicannabinoid oil and plant-based softgels for sale in Manitoba via the Manitoba Liquor & Lotteries Corporation. The oil, available in 1800 ml containers at 12 mg/ml concentration, features Delta 9, CBD, CBC, CBG, and CBN. The softgels contain 3 mg of each cannabinoid in packs of 120. Following recent listings in Ontario, this expansion aims to enhance access for consumers across Canada. High Tide continues its commitment to innovation in the cannabinoid market.
High Tide Inc. (NASDAQ: HITI) announced the opening of its 141st Canna Cabana retail cannabis store at 5628 Dunbar Street, Vancouver, as of October 25, 2022, at 4:20 PM. This marks their third location in Vancouver and fourth in British Columbia. The new store aims to serve both local residents and visitors, being strategically located near a major grocery chain and colleges with over 80,000 combined students. High Tide continues to expand its discount club model, enhancing its presence in a major cannabis market with plans to operate eight stores in BC by year-end.
High Tide Inc. (NASDAQ: HITI) has announced that its subsidiary, NuLeaf Naturals, has successfully listed its Full Spectrum Hemp Multicannabinoid oil and plant-based softgels for sale in Ontario. This approval from the Ontario Cannabis Store allows NuLeaf's products—featuring five cannabinoids including Delta 9, CBC, CBD, CBG, and CBN—to reach Canadian consumers. These products will be available in 1800 ml containers and 120-pack softgel formats. The launch in Ontario marks a significant milestone for NuLeaf, aiming to capture market share in Canada and combat illicit CBD sales.
High Tide, a prominent cannabis retailer, is acquiring 100% equity of Jimmy's Cannabis Shop BC for $5.3 Million. This acquisition adds two stores in British Columbia, increasing High Tide's footprint to five locations in the province. The stores generated annualized revenue of $5.4 Million and an Adjusted EBITDA of $1.0 Million for the trailing four months ended May 31, 2022. The purchase price reflects a multiple of 5.25x the annualized Adjusted EBITDA. This strategic move is aimed at enhancing High Tide's market presence and aligns with its growth strategy.
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