High Tide Inc. (“High Tide” or the “Company”) (TSXV: HITI)
(Nasdaq: HITI) (FRA: 2LYA), a retail-focused cannabis corporation
enhanced by the manufacturing and distribution of consumption
accessories, today announced that as per the recently disclosed
listing of holdings available on its website, the Company’s shares
have now been included in Horizons Marijuana Life Sciences Index
ETF (TSX: HMMJ).
“We are very pleased to have our shares included in the Horizons
Marijuana Life Sciences Index ETF,” said Raj Grover, President and
Chief Executive Officer of High Tide. “This is yet more recognition
of High Tide’s continued execution which has now resulted in
another high profile institution acquiring our shares since we
listed them on the Nasdaq. This inclusion represents the second new
ETF listing for High Tide since our shares began trading on the
Nasdaq two months ago,” added Mr. Raj Grover.
Voting Results from Annual General and Special Meeting of
Shareholders
The Company also released voting results from its Annual General
and Special Meeting of Shareholders held virtually on Thursday,
July 29, 2021 (the “Meeting”). All nominees included in its Notice
of Annual General and Special Meeting of Shareholders and
Management Information Circular dated June 14, 2021 (the
“Circular”), were elected as directors of High Tide.
The results of the votes were as follows:
Nominee
Votes For:
Votes Withheld:
Number
%
Number
%
Harkirat (“Raj”) Grover
6,700,845
99.92
5,474
0.08
Nitin Kaushal
6,701,438
99.93
4,906
0.07
Arthur Kwan
6,690,168
99.76
16,176
0.24
Christian Sinclair
6,702,172
99.94
4,172
0.06
Andrea Elliott
6,701,438
99.93
4,906
0.07
All other resolutions included in the Circular were successfully
approved by shareholders at the Meeting, including but not limited
to the appointment of Ernst & Young LLP as the Company’s
auditor, fixing the number of directors at five and to consider the
passing of other resolutions if deemed advisable, with or without
variation.
Grant of Restricted Share Units
The Company also announced that its Board of Directors has
approved a grant of 35,000 restricted share units ("RSUs") to an
officer of the Company pursuant to the Company's restricted share
unit plan. Each RSU entitles the holder to acquire one common share
of the Company upon vesting.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the
manufacturing and distribution of consumption accessories. The
Company is the most profitable Canadian retailer of recreational
cannabis as measured by Adjusted EBITDA1, with 88 current locations
spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s
retail segment features the Canna Cabana, Meta Cannabis Co., Meta
Cannabis Supply Co. and NewLeaf Cannabis banners, with additional
locations under development across the country. High Tide has been
serving consumers for over a decade through its established
ecommerce platforms including Grasscity.com, Smokecartel.com and
Dailyhighclub.com, and more recently in the hemp-derived CBD space
through CBDcity.com and FABCBD.com 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. Key industry investors
in High Tide include Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and
Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB).
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 and its profile page on SEDAR at
www.sedar.com.
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. and
KushBar Inc. businesses. 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.
1 Adjusted EBITDA is a non-IFRS financial measure.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210730005145/en/
Vahan Ajamian Capital Markets Advisor vahan@hightideinc.com
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