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Jan. 10, 2021, 9:44 p.m. EST

High Tide Unveils New and Improved Website

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CALGARY, AB, Jan. 10, 2021 (Canada NewsWire via COMTEX) -- High Tide Inc. ("High Tide" or the "Company") /zigman2/quotes/222662325/delayed CA:HITI +7.35% (otcqb:HITIF) (fra:2LY), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, today announced the launch of a revamped website at https://hightideinc.com/ . The Company's website was overhauled, primarily aimed at making its online presence more inviting for current and potential investors and to better reflect where the Company is today. News, articles and videos regarding the Company can now all be found on the new platform in a more intuitive user-friendly interface.

The Company would also like to take the opportunity to clarify the following figures that were included on a live beta version of the website without the appropriate footnotes:







        
            --  $148M in revenue(1)
            --  Gross margin of 38%(2)
            --  $5.3M Positive adjusted EBITDA(3)
            --  67 total cannabis retail store count.
        
        
        


ABOUT HIGH TIDE

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 67 current 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 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. /zigman2/quotes/205566616/delayed CA:APHA +3.13% /zigman2/quotes/207425803/composite APHA +2.55% and Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB +0.10% /zigman2/quotes/203734337/delayed CA:ACB +0.08% .

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.







        
        
        
        
                    1             Annualized
                                    pro forma
                                    incorporating
                                    the
                                    acquisition
                                    of META
                                    Growth Corp.
                                    Estimate is
                                    based on
                                    most recent
                                    interim
                                    financial
                                    statements
                                    of High Tide
                                    and Meta
                                    Growth Corp.
        
        
        
                    2             Based on the
                                    year to date
                                    reported
                                    interim
                                    financial
                                    statements
                                    of High Tide
                                    (prior to
                                    the
                                    acquisition
                                    of META
                                    Growth Corp)
                                    - Q1 2020 to
                                    Q3 2020.
        
        
        
                    3             Based on the
                                    year to date
                                    reported
                                    interim
                                    financial
                                    statements
                                    of High Tide
                                    (prior to
                                    the
                                    acquisition
                                    of META
                                    Growth Corp)
                                    - Q1 2020 to
                                    Q3 2020.
                                    Earnings
                                    before
                                    interest,
                                    taxes,
                                    depreciation,
                                    and
                                    amortization
                                    ("EBITDA")
                                    and Adjusted
                                    EBITDA.
                                    These
                                    measures do
                                    not have a
                                    standardized
                                    meaning
                                    prescribed
                                    by IFRS and
                                    are
                                    therefore
                                    unlikely to
                                    be
                                    comparable
                                    to similar
                                    measures
                                    presented by
                                    other
                                    issuers.
                                    Non-IFRS
                                    measures
                                    provide
                                    investors
                                    with a
                                    supplemental
                                    measure of
                                    the
                                    Company's
                                    operating
                                    performance
                                    and
                                    therefore
                                    highlight
                                    trends in
                                    Company's
                                    core
                                    business
                                    that may not
                                    otherwise be
                                    apparent
                                    when relying
                                    solely on
                                    IFRS
                                    measures.
                                    Management
                                    uses non-
                                    IFRS
                                    measures in
                                    measuring
                                    the
                                    financial
                                    performance
                                    of the
                                    Company.
        
        
        


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release are based on certain assumptions made by High Tide. While High Tide considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the retail cannabis markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the retail cannabis industries generally; income tax and regulatory matters; the ability of High Tide to implement its business strategy; competition; currency and interest rate fluctuations; the COVID-19 pandemic nationally and globally and the response of governments to the COVID-19 pandemic in respect of the operation of retail stores and other risks.

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 news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. High Tide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in High Tide's public filings and material change reports, which are and will be available on SEDAR.

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.

SOURCE High Tide Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2021/10/c0541.html

SOURCE: High Tide Inc.







        High Tide Inc., Vahan Ajamian, Vice President, Capital Markets, ir@hightideinc.com,
        Tel. 1 (403) 770-9435; extension 116
        


COMTEX_377490956/2197/2021-01-10T21:44:00

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright (C) 2021 CNW Group. All rights reserved.

/zigman2/quotes/222662325/delayed
CA : Canada: TSX Venture
$ 0.73
+0.05 +7.35%
Volume: 2.68M
March 8, 2021 5:40p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$428.75 million
Rev. per Employee
N/A
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/zigman2/quotes/205566616/delayed
CA : Canada: Toronto
$ 20.46
+0.62 +3.13%
Volume: 4.82M
March 8, 2021 5:40p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.28 billion
Rev. per Employee
$451,949
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/zigman2/quotes/207425803/composite
US : U.S.: Nasdaq
$ 16.11
+0.40 +2.55%
Volume: 14.13M
March 8, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.95 billion
Rev. per Employee
$337,179
loading...
/zigman2/quotes/210559470/composite
US : U.S.: NYSE
$ 9.61
+0.01 +0.10%
Volume: 9.75M
March 8, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.89 billion
Rev. per Employee
$76,070
loading...
/zigman2/quotes/203734337/delayed
CA : Canada: Toronto
$ 12.16
+0.01 +0.08%
Volume: 3.56M
March 8, 2021 5:40p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.40 billion
Rev. per Employee
$102,126
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