High Tide Becomes Top Revenue-Generating Cannabis Company in Canada

CALGARY, Alberta–(BUSINESS WIRE)–Excessive Tide Inc. (“Excessive Tide” or the “Firm”) (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA), a number one retail-focused hashish firm with bricks-and-mortar in addition to world e-commerce property, introduced at the moment that based on new knowledge just lately launched by the hashish enterprise publication, New Hashish Ventures, the Firm is now Canada’s prime revenue-generating hashish firm¹.

Up to date for filings by means of 11/14/22

“Since going public, we’ve repeatedly been a frontrunner in Canadian retail hashish. In accordance with New Hashish Ventures, we at the moment are the best Canadian revenue-generating hashish firm throughout all three verticals of retail, extraction and rising. This can be a testomony to our workforce’s dedication and continued execution to obviously surpass our personal inner targets over the previous couple of years. Excessive Tide was amongst Canada’s prime rising corporations as ranked by the Globe and Mail’s Report on Enterprise Journal in each 2021 and 2022, reaching a rating of 21 out of 430 in 2022. This exponential progress was all achieved with out having greater than 29 million {dollars} in our financial institution at any given time,” stated Raj Grover, President and Chief Government Officer of Excessive Tide. “We see loads of alternatives in Canada, the U.S. and internationally in 2023 and past as we proceed this robust momentum to additional enhance our prime line considerably. This progress will come from ongoing bricks-and-mortar growth in Canada in addition to our new and present e-commerce platforms facilitating the gross sales of consumption equipment and hemp-derived CBD merchandise. Our continued give attention to operational execution is one thing that I imagine can set us as much as be amongst the best revenue-generating corporations in all of hashish. I need to take this chance to thank our clients, shareholders and workforce members for making this success doable,” added Mr. Grover.

NEW WINDSOR CANNA CABANA LOCATION

The Firm additionally introduced that its second Canna Cabana retail hashish retailer in Windsor, Ontario, situated at 6711 Tecumseh Street E, has begun promoting leisure hashish merchandise and consumption equipment for grownup use. This opening marks Excessive Tide’s 142^nd Canna Cabana branded retail hashish location in Canada and is the 44^th location in Ontario. This Windsor – East Park retailer is in a plaza anchored by main fast-food retailers and a nationwide low cost chain. This retailer can also be situated near the favored Tecumseh Mall.

GRANT OF OPTIONS

As well as, Excessive Tide declares the grant of an combination of 15,000 incentive inventory choices (the “Choices”) to sure workers of the Firm. Every Choice is exercisable on the closing value of the Firm’s widespread shares listed on the TSX Enterprise Trade (the “TSXV”) primarily based on the final buying and selling day instantly previous to this press launch, expires three years from the date of grant, and vests over a two-year interval. Every Choice is exercisable to buy one widespread share of the Firm and are being issued pursuant to the phrases of the Firm’s Omnibus Plan, which grew to become efficient on June 2, 2022 (as additional detailed in Excessive Tide’s press launch dated September 14, 2022).

ABOUT NEW CANNABIS VENTURES

New Hashish Ventures is a information and data platform supplied by NCV Media, LLC (“NCV”) that highlights promising corporations and influential traders within the hashish trade. NCV is a cannabis-centric advertising and marketing and communications firm.

ABOUT HIGH TIDE

Excessive Tide is a number one retail-focused hashish firm with bricks-and-mortar in addition to world e-commerce property. The Firm is the biggest non-franchised hashish retail chain in Canada, with 142 present places spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The Firm can also be North America’s first hashish low cost membership retailer, underneath the Canna Cabana banner, which is the single-largest hashish retail model in Canada, with extra places underneath growth throughout the nation. Excessive Tide’s portfolio additionally contains retail kiosks and good locker expertise – Fastendr^™. Excessive Tide has been serving shoppers for over a decade by means of its established e-commerce platforms, together with Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com and extra just lately within the hemp-derived CBD house by means of Nuleafnaturals.com, FABCBD.com, BlessedCBD.co.uk, BlessedCBD.de, and Amazon United Kingdom, in addition to its wholesale distribution division underneath Valiant Distribution, together with the licensed leisure product producer Well-known Brandz. Excessive Tide was featured within the Report on Enterprise Journal’s rating of Canada’s Prime Rising Firms in each 2021 and 2022 and was named as one of many prime 10 performing diversified industries shares within the 2022 TSX Enterprise 50^™. Excessive Tide’s technique as a guardian firm is to increase and strengthen its built-in worth chain whereas offering a whole buyer expertise and maximizing shareholder worth.

For extra details about Excessive Tide, please go to www.hightideinc.com and its profile pages on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Neither the TSXV nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts accountability for the adequacy or accuracy of this launch.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press launch incorporates “forward-looking data” throughout the that means of relevant Canadian securities laws. These statements relate to future occasions or future efficiency. The usage of any of the phrases “may”, “intend”, “anticipate”, “imagine”, “will”, “projected”, “estimated” and comparable expressions and statements referring to issues that aren’t historic info are meant to establish forward-looking data and are primarily based on the Firm’s present perception or assumptions as to the result and timing of such future occasions.

The forward-looking data and forward-looking statements contained herein embody, however will not be restricted to, statements concerning: the Firm’s enterprise targets and milestones and the anticipated timing of, and prices in reference to, the execution or achievement of such targets and milestones (together with, with out limitation, proposed acquisitions); the Firm’s future progress prospects and intentions to pursue a number of viable enterprise alternatives; the event of the Firm’s enterprise and future actions following the date hereof; expectations referring to market measurement and anticipated progress within the jurisdictions inside which the Firm might once in a while function or ponder future operations; expectations with respect to financial, enterprise, regulatory and/or aggressive components associated to the Firm or the hashish trade usually; the marketplace for the Firm’s present and proposed product choices, in addition to the Firm’s capability to seize market share; the Firm’s strategic investments and capital expenditures, and associated advantages; the distribution strategies anticipated for use by the Firm to ship its product choices; the aggressive panorama inside which the Firm operates and the Firm’s market share or attain; the efficiency of the Firm’s enterprise and the operations and actions of the Firm; the Firm including the variety of extra hashish retail retailer places the Firm proposes so as to add to the Firm’s enterprise upon the timelines indicated herein, and the Firm remaining on a constructive progress trajectory; the Firm finishing the event of its hashish retail shops; the Firm’s capability to acquire, preserve, and renew or lengthen, relevant authorizations, together with the timing and impression of the receipt thereof; the Firm’s capability to finish its proposed acquisitions; the Firm persevering with to develop its on-line retail portfolio by means of additional strategic and accretive acquisitions; the Firm being Canada’s prime revenue-generating hashish firm based on knowledge offered by NCV; the Firm figuring out native and worldwide alternatives and its plans to capitalize on such alternatives by means of the growth of its bricks-and-mortar and e-commerce platforms; and the Firm’s continued give attention to operational execution being integral within the Firm’s plans to be among the many highest revenue-generating corporations in hashish.

Ahead-looking data on this press launch are primarily based on sure assumptions and anticipated future occasions, particularly: present and future members of administration will abide by the Firm’s enterprise targets and methods once in a while established by the Firm; the Firm will retain and complement its board of administrators and administration, or in any other case have interaction consultants and advisors having data of the industries (or segments thereof) inside which the Firm might once in a while take part; the Firm may have ample working capital and the power to acquire the financing required with a purpose to develop and proceed its enterprise and operations; the Firm will proceed to draw, develop, encourage and retain extremely certified and expert consultants and/or workers, because the case could also be; no opposed modifications can be made to the regulatory framework governing hashish, taxes and all different relevant issues within the jurisdictions through which the Firm conducts enterprise and some other jurisdiction through which the Firm might conduct enterprise sooner or later; the Firm will be capable of generate money circulation from operations, together with, the place relevant, the distribution and sale of hashish and hashish merchandise; the Firm will be capable of execute on its enterprise technique as anticipated; the Firm will be capable of meet the necessities mandatory to acquire and/or preserve authorizations required to conduct the enterprise; common financial, monetary, market, regulatory, and political circumstances, is not going to negatively have an effect on the Firm or its enterprise; the Firm will be capable of efficiently compete within the hashish trade; hashish costs is not going to decline materially; the Firm will be capable of successfully handle anticipated and unanticipated prices; the Firm will be capable of conduct its operations in a secure, environment friendly and efficient method; common market circumstances can be beneficial with respect to the Firm’s future plans and objectives; the Firm will full its proposed acquisitions; the Firm will add the extra hashish retail retailer places to the Firm’s enterprise and stay on a constructive progress trajectory; the Firm will full the event of its hashish retail shops; the Firm will proceed to develop its on-line retail portfolio by means of additional strategic and accretive acquisitions; the accuracy of the NCV report referring to the Firm being Canada’s prime revenue-generating hashish firm; the Firm has the power to establish native and worldwide alternatives and capitalize on such alternatives by means of the growth of its bricks-and-mortar and e-commerce platforms; and the Firm’s continued give attention to operational execution can be integral within the Firm’s plans to be among the many highest revenue-generating corporations in hashish.

These statements contain recognized and unknown dangers, uncertainties and different components, which can trigger precise outcomes, efficiency or achievements to vary materially from these expressed or implied by such statements, together with however not restricted to: the Firm’s incapacity to draw and retain certified members of administration to develop the Firm’s enterprise and its operations; unanticipated modifications in financial and market circumstances or in relevant legal guidelines; the impression of the publications of inaccurate or unfavourable analysis by securities analysts or different third events; the Firm’s failure to finish future acquisitions or enter into strategic enterprise relationships; interruptions or shortages within the provide of hashish once in a while out there to assist the Firm’s operations once in a while; unanticipated modifications within the hashish trade within the jurisdictions inside which the Firm might once in a while conduct its enterprise and operations, together with the Firm’s incapacity to reply or adapt to such modifications; the Firm’s incapacity to safe or preserve beneficial lease preparations or the required authorizations essential to conduct the enterprise and operations and meet its targets; the Firm’s incapacity to safe fascinating retail hashish retailer places on beneficial phrases; dangers referring to projections of the Firm’s operations; the Firm’s incapacity to successfully handle unanticipated prices and bills, together with prices and bills related to product remembers and judicial or administrative proceedings towards the Firm danger that the Firm can be unable so as to add extra hashish retail retailer places to the Firm’s enterprise and stay on a constructive progress trajectory; dangers that the Firm can be unable to finish the event of all or any of its hashish retail shops; dangers that the Firm won’t be able to proceed to develop its on-line retail portfolio by means of additional strategic and accretive acquisitions on the beneficial phrases or in any respect; any inaccuracies of or opposed modifications to the NCV report referring to the Firm being Canada’s prime revenue-generating hashish firm; the Firm’s incapacity to establish native and worldwide alternatives and capitalize on such alternatives by means of the growth of its bricks-and-mortar and e-commerce platforms; and the Firm’s continued give attention to operational execution is not going to be integral within the Firm’s plans to be among the many highest revenue-generating corporations in hashish.

Readers are cautioned that the foregoing listing just isn’t exhaustive. Readers are additional cautioned to not place undue reliance on forward-looking statements, as there might be no assurance that the plans, intentions or expectations upon which they’re positioned will happen. Such data, though thought of affordable by administration on the time of preparation, might show to be incorrect and precise outcomes might differ materially from these anticipated.

Ahead-looking statements contained on this press launch are expressly certified by this cautionary assertion and replicate the Firm’s expectations as of the date hereof and are topic to alter thereafter. The Firm undertakes no obligation to replace or revise any forward-looking statements, whether or not on account of new data, estimates or opinions, future occasions or outcomes or in any other case or to elucidate any materials distinction between subsequent precise occasions and such forward-looking data, besides as required by relevant legislation.

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¹ Rating pertains to corporations reporting in CAD

² Based mostly on reporting by New Hashish Ventures as at November 14, 2022. For the New Hashish Ventures’ senior itemizing, segmented cannabis-only gross sales should generate greater than US$25 million per quarter (CAD$31 million) – for full particulars, see: https://www.newcannabisventures.com/cannabis-company-revenue-ranking/