The Company Additionally Reports its Cabana
Club Loyalty Program has Surpassed 700,000 Members
CALGARY,
AB, Aug. 25, 2022 /CNW/ - 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 it will release its financial and operational results
for the quarter ended July 31, 2022,
after financial markets close on Wednesday,
September 14, 2022. High Tide's third quarter 2022 financial
and operational results will be available on SEDAR, EDGAR, and on
the Company's website at www.hightideinc.com/invest.
Following the release of its third 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 Wednesday,
September 14, 2022. The webcast and conference call will discuss
High Tide's third 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/992967987
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: 619859
*Participants will need to enter the participant access code
before being met by a live operator*
CABANA CLUB MEMBERSHIP
NUMBERS
The Company also announced today that its Cabana Club loyalty
program has surpassed the milestone of 700,000 members. This figure
represents over 185% growth from the 245,000 members the Cabana
Club had when the Company launched its innovative cannabis discount
club model approximately ten months ago. High Tide looks forward to
expanding the Cabana Club membership program through the launch of
Cabana Elite - a paid upgrade of Cabana Club that will offer
members additional premium benefits, which the Company anticipates
rolling out by the end of 2022. Those customers who do not wish to
upgrade to the premium service will continue to enjoy their
existing Cabana Club membership benefits free of charge.
CHIEF TECHNOLOGY OFFICER
High Tide additionally announced today that Greg Fleury has departed his role of Chief
Technology Officer. Mr. Fleury's duties have been added to the
portfolio of the Company's Chief Operating Officer, Aman Sood, who will be supported by an enhanced
IT and e-commerce team. High Tide thanks Mr. Fleury for his
services and wishes him all the best in his future professional
endeavours.
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 non-franchised retailer of recreational cannabis in
Canada, with 139 current
locations spanning Ontario,
Alberta, British Columbia, Manitoba, and Saskatchewan. The Company is also North America's first cannabis discount club
retailer, under the Canna Cabana banner, which is the
single-largest cannabis retail brand in Canada 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,, BlessedCBD.de, and Amazon UK, as well as its
wholesale distribution division under Valiant Distribution,
including the licensed entertainment product manufacturer Famous
Brandz. 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™. 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.
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.
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 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.