CALGARY, AB, April 8, 2021 /CNW/ - High Tide Inc.
("High Tide" or the "Company") (TSXV: HITI) (OTCQB:
HITIF) (FRA:2LY), a retail-focused cannabis corporation enhanced by
the manufacturing and distribution of consumption accessories, is
pleased to announce that it has filed a preliminary short form base
shelf prospectus (the "Prospectus") to provide the Company
with the flexibility to take advantage of financing opportunities
and favourable market conditions, if and when needed, during the
25-month period that the Prospectus, once made final, remains
effective (the "Effective Period").
The Prospectus has been filed in each of the provinces and
territories in Canada. The
Prospectus, when final and effective, will enable the Company to
offer, issue and sell, from time to time: common shares, warrants,
units, subscription receipts, debt securities, convertible
securities, or any combination of such securities (collectively,
the "Securities") for up to an aggregate offering price of
C$100,000,000 (or its equivalent), in
one or more transactions during the Effective Period.
The Company may also use the Prospectus in connection with an
"at-the-market distribution" in accordance with applicable
securities laws, which would permit securities to be sold on behalf
of the Company through the TSX Venture Exchange (the "TSXV")
(or other existing trading markets) as further described in the
applicable prospectus supplement. To date, no agreement has been
entered into with respect to such a distribution.
The Company may use the net proceeds from the sale of Securities
for general corporate purposes, capital projects, internal
expansion, or for the acquisition of other businesses, assets or
securities by the Company or one of its subsidiaries.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the Securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under securities laws of any such jurisdiction.
If any Securities are offered under the Prospectus, the terms of
any such Securities and the intended use of the net proceeds
resulting from such offering would be established at the time of
any offering and would be described in a prospectus supplement
filed with the applicable Canadian securities regulatory
authorities at the time of such offering and would be made
available by High Tide.
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 largest Canadian retailer of recreational cannabis
as measured by revenue, with 81 branded retail locations spanning
Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment
features the Canna Cabana, KushBar, 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 numerous
consumption accessory businesses including e-commerce platforms
Grasscity.com, Smokecartel.com and CBDcity.com, and 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 Aphria Inc. (TSX:APHA) (NYSE:APHA) and Aurora
Cannabis Inc. (NYSE:ACB) (TSX: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.
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 High Tide's
use of proceeds in respect of the Securities issued under the
Prospectus, if any. 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.
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SOURCE High Tide Inc.