CALGARY,
AB, Oct. 18, 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, is pleased
to announce that its Colorado-based subsidiary, NuLeaf Naturals
("NuLeaf"), has had its Full Spectrum Hemp Multicannabinoid
oil and plant-based softgels with delta-9 tetrahydrocannabinol
("Delta 9"),
cannabichromene ("CBC"), cannabidiol ("CBD"),
cannabigerol ("CBG") and cannabinol ("CBN") listed
for sale in Ontario. This listing comes after NuLeaf received
approval from the Ontario Cannabis Store ("OCS") to list
these additional products in the OCS's Fall Product call of
2022.
The oil will be available in 1800 ml containers at a
concentration of 12 mg for each of the listed five cannabinoids,
while the plant-based softgels will be available in packages of
120, each softgel containing 3 mg of each of the five listed
cannabinoids.
"I am thrilled to finally share that the highly anticipated
NuLeaf Naturals Multicannabinoid products are now available
for all licensed cannabis retailers to stock in Ontario, Canada's largest province, and should
be available to consumers in the coming days at our Canna Cabana
store network and through other licensed cannabis retailers. For
some time now Canadian CBD customers have been reaching out to our
team in the US asking when these products will become available
north of the border; well, that wait is now over. While we are
starting in Ontario, we look
forward to launching these trail-blazing Multicannabinoid product
lines in other Canadian provinces in the near future. I am pleased
to announce that as of today NuLeaf has become High Tide's first
U.S.-based CBD subsidiary to have its products available for order
in Canada through the OCS," said
Raj Grover, President and Chief Executive Officer of High Tide.
"Since its founding in 2014, NuLeaf has been committed to creating
the world's highest quality cannabinoid products in their most pure
and potent form. These Multicannabinoid oils and softgels contain a
unique combination of five cannabinoids that is unparalleled in
Canada. This one-of-a-kind product
formulation sets NuLeaf apart from its competition and will help us
continue to chip away at the illicit market share of CBD sales in
Ontario and other Canadian
provinces as these product launches continue." added Mr.
Grover.
About NuLeaf Naturals
Founded in 2014 in Denver,
Colorado, NuLeaf Naturals is one of America's leading
cannabinoid companies. Since inception, NuLeaf has been committed
to creating the world's highest quality cannabinoid products in
their most pure and potent form. NuLeaf's products are produced at
a cGMP-certified facility enabling them to manufacture
groundbreaking cannabinoid formulations while reaching beyond the
highest levels of regulatory compliance. Their cannabinoid products
are sold direct-to-consumer from their website and are also
available at bricks-and-mortar stores across the U.S. NuLeaf is
committed to creating safe, consistent, and effective products and
has proudly received over 25,000 verified 5-star customer reviews
through its e-commerce platform.
For more information about NuLeaf, please
visit www.nuleafnaturals.com.
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 recreational cannabis retail chain in
Canada as measure by revenue, with
140 current locations spanning British
Columbia, Alberta,
Saskatchewan, Manitoba and Ontario. 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 kiosks 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 United
Kingdom, as well as its wholesale distribution division under
Valiant Distribution, including the licensed entertainment product
manufacturer Famous Brandz. High Tide was featured in the annual
Report on Business Magazine's ranking of Canada's Top Growing Companies in both 2021
and 2022 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, please
visit www.hightideinc.com and its profile pages on SEDAR
at www.sedar.com and EDGAR at www.sec.gov.
Neither the TSX Venture Exchange (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
This press release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
These statements relate to future events or future performance. The
use of any of the words "could", "intend", "expect", "believe",
"will", "projected", "estimated" and similar expressions and
statements relating to matters that are not historical facts are
intended to identify forward-looking information and are based on
the Company's current belief or assumptions as to the outcome and
timing of such future events.
The forward-looking information and forward-looking
statements contained herein include, but are not limited to,
statements regarding: the Company's business objectives and
milestones and the anticipated timing of, and costs in connection
with, the execution or achievement of such objectives and
milestones (including, without limitation, proposed acquisitions);
the Company's future growth prospects and intentions to pursue one
or more viable business opportunities; the development of the
Company's business and future activities following the date hereof;
expectations relating to market size and anticipated growth in the
jurisdictions within which the Company and NuLeaf may from time to
time operate or contemplate future operations; expectations
with respect to economic, business, regulatory and/or competitive
factors related to the Company and NuLeaf or the cannabis industry
generally; the market for the Company and NuLeaf's current and
proposed product offerings, as well as the Company and NuLeaf's
ability to capture market share; the Company's strategic
investments and capital expenditures, and related benefits; the
distribution methods expected to be used by the Company to deliver
its product offerings; the competitive landscape within which each
the Company and NuLeaf operates and the Company and NuLeaf's market
share or reach; the performance of the Company's business and the
operations and activities of the Company; the Company
adding the number of additional cannabis retail store locations the
Company proposes to add to the Company's business upon the
timelines indicated herein, and the Company remaining on a positive
growth trajectory; the Company building upon its existing momentum
in the international hemp-derived CBD and consumption accessories
e-commerce sectors; the Company and NuLeaf continuing to integrate
and expand its CBD brands; the Company completing the development
of its cannabis retail stores; the Company's ability to
obtain, maintain, and renew or extend, applicable authorizations,
including the timing and impact of the receipt thereof; the
realization of cost savings, synergies or benefits from the
Company's recent and proposed acquisitions, and the Company's
ability to successfully integrate the operations of any business
acquired within the Company's business; the Company developing and
launching Cabana Cannabis Co. white label products in the
jurisdictions; Cabana Club loyalty program membership
continuing to increase; the Company's expectations from
its Cabana Cannabis Co. white label products; NuLeaf's
ability to successfully launch multicannabinoid product lines in
the jurisdictions and on the timelines outlined herein and such
products achieving the results disclosed herein; NuLeaf's ability
to successfully maintain its products availability for sale in
Canada through the
OCS; the Company becoming the largest
revenue-generating cannabis company reporting in Canada dollars; the anticipated
effects of the Cabana elite program on the business and operations
of the Company; the Company's ability to extend and strengthen its
value chain, provide required customer experience and maximize
shareholders' value; the Company continuing to grow its
online retail portfolio through further strategic and accretive
acquisitions.
Forward-looking information in this press release are based
on certain assumptions and expected future events, namely: current
and future members of management will abide by the Company's
business objectives and strategies from time to time established by
the Company; the Company will retain and supplement its board
of directors and management, or otherwise engage consultants and
advisors having knowledge of the industries (or segments thereof)
within which the Company may from time to time participate; the
Company will have sufficient working capital and the ability to
obtain the financing required in order to develop and continue its
business and operations; the Company will continue to attract,
develop, motivate and retain highly qualified and skilled
consultants and/or employees, as the case may be; no adverse
changes will be made to the regulatory framework governing
cannabis, taxes and all other applicable matters in the
jurisdictions in which the Company conducts business and any other
jurisdiction in which the Company may conduct business in the
future; the Company will be able to generate cash flow from
operations, including, where applicable, the distribution and sale
of cannabis and cannabis products; the Company and NuLeaf will be
able to execute on its business strategies as anticipated; the
Company and NuLeaf will be able to meet the requirements necessary
to obtain and/or maintain authorizations required to conduct the
business; general economic, financial, market, regulatory, and
political conditions will not negatively affect the Company and
NuLeaf or their respective businesses; the Company and NuLeaf will
be able to successfully compete in the cannabis industry; cannabis
prices will not decline materially; the Company and NuLeaf will be
able to effectively manage anticipated and unanticipated costs;
general market conditions will be favourable with respect to the
Company and NuLeaf's future plans and goals; the Company will build
upon its existing momentum in the international hemp-derived CBD
and consumption accessories e-commerce sectors; the Company and
NuLeaf will continue to integrate and expand its CBD brands; the
Company will add the additional cannabis retail store locations to
the Company and NuLeaf's business and remain on a positive growth
trajectory; the Company will complete the development of its
cannabis retail stores; NuLeaf's will successfully launch
multicannabinoid product lines in the jurisdictions and on the
timelines outlined herein and such products will achieve the
results disclosed herein; NuLeaf's will successfully maintain its
products availability for sale in Canada through the OCS; the Company will
become the largest revenue-generating cannabis company reporting in
Canada dollars; Cabana Club
loyalty program membership will continue to increase; the Company
will continue to develop and launch Cabana Cannabis Co. white label
products in the jurisdictions and on the timelines outlined herein
and such products will achieved the results disclosed herein; the
Cabana elite program will have the anticipated effect on the
business and operations of the Company; the Company will be able to
extend and strengthen its value chain, provide required customer
experience and maximize shareholders' value; and the Company will
continue to grow its online retail portfolio through further
strategic and accretive acquisitions.
These statements involve known and unknown risks,
uncertainties and other factors, which may cause actual results,
performance or achievements to differ materially from those
expressed or implied by such statements, including but not limited
to: the Company's inability to attract and retain qualified
members of management to grow the Company's business and its
operations; unanticipated changes in economic and market conditions
or in applicable laws; the impact of the publications of inaccurate
or unfavourable research by securities analysts or other third
parties; interruptions or shortages in the supply of cannabis from
time to time available to support the Company and NuLeaf's
operations from time to time; unanticipated changes in the cannabis
industry in the jurisdictions within which the Company and NuLeaf
may from time to time conduct its business and operations,
including the Company and NuLeaf's inability to respond or adapt to
such changes; the Company's inability to secure or maintain
favourable lease arrangements or the required authorizations
necessary to conduct the business and operations and meet its
targets; the Company's inability to secure desirable retail
cannabis store locations on favourable terms; risks relating to
projections of the Company and NuLeaf's operations; the Company and
NuLeaf's inability to effectively manage unanticipated costs and
expenses; risk that Cabana Club loyalty program membership will
decrease and/or plateau; risk that the Company will be unable to
develop and launch Cabana Cannabis Co. white label products in the
jurisdictions and/or that such products will be unable to achieve
the results disclosed herein; risk that the Company or NLleaf will
be unable to increase its revenue profile; risk that the
Company or NuLeaf will be unable to expand in the jurisdictions in
which each proposes to expand; risk that the Company or NuLeaf will
be unable to continue to integrate and expand its CBD brands; risk
that the Company will be unable to grow its online retail portfolio
through further strategic and accretive acquisitions; risk that the
Company will be unable to add additional cannabis retail store
locations to the Company's business and remain on a positive growth
trajectory; risks that the Company will be unable to complete the
development of any or all of its cannabis retail stores; risk that
the Company will not become the largest revenue-generating cannabis
company reporting in Canada
dollars; risk that the Cabana elite program will not have the
anticipated effect on the business and operations of the Company;
risks surrounding the legality of Delta 9, CBC, CD, CBG, and CBN in
jurisdictions in which the Company or NuLeaf proposes to sell these
products; risks associated the Company being unable to extend and
strengthen its value chain, provide required customer experience
and maximize shareholders' value; and risks associated with
inability to grow Company's online retail portfolio through further
strategic and accretive acquisitions.
Readers are cautioned that the foregoing list is not
exhaustive. Readers are further cautioned not to place undue
reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are placed will occur. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement and
reflect the Company's expectations as of the date hereof and are
subject to change thereafter. The Company undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, estimates or opinions, future events or
results or otherwise or to explain any material difference between
subsequent actual events and such forward-looking information,
except as required by applicable law.
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SOURCE High Tide Inc.