An anonymous director reports

HIGH TIDE TO ANNOUNCE SECOND QUARTER 2023 FINANCIAL RESULTS AND ACQUISITION OF REMAINING INTEREST OF FABCBD

High Tide Inc. will release its financial and operational results for the quarter ended April 30, 2023, after financial markets close on Wednesday, June 14, 2023. High Tide's second quarter 2022 financial and operational results will be available on SEDAR, EDGAR and on the company's website.

Following the release of its second quarter financial and operational results, High Tide will host a webcast with Raj Grover, president and chief executive officer, and Sergio Patino, interim chief financial officer, to discuss the company's financial results and its plans for the remainder of 2023, at 11:30 a.m. Eastern Time on Thursday, June 15.

Participants are encouraged to preregister for the webcast prior to the beginning of the live webcast. Three hours after the live webcast, a replay of the webcast will be available.

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: 1-833-470-1428

United States (local): 1-404-975-4839

Participant access code: 475667

Participants will need to enter the participant access code before being met by a live operator.

Acquisition of remaining interest of FABCBD

In addition, the company is pleased to announce that it has closed on the remaining interest of Fab Nutrition LLC, operating as FabCBD, not held by High Tide. As described in the company's news release dated May 10, 2021, FABCBD's founder was granted an option to put to High Tide the remaining shares in FABCBD not held by High Tide at an enterprise value equal to the trailing 12 months of EBITDA (earnings before interest, taxes, depreciation and amortization) multiplied by six. The put option was exercised by FABCBD's founder on Sept. 20, 2022. Pursuant to the original agreement granting the put option, the consideration for the remaining 20 per cent of FABCBD, which was acquired by High Tide, is to be satisfied by the company by issuing 386,035 common shares of High Tide valued at $560,380 (U.S.) ($747,827) on the basis of a deemed price per High Tide share of $1.9372.

In connection with the transaction, the company has agreed to pay Bayline Capital Partners Inc., an arm's-length party, a finder's fee of $49,528.51 (U.S.) in High Tide shares, being 37,552 High Tide shares on the basis of a deemed price per High Tide share of $1.3189 (U.S.).

The issuance of the High Tide shares for the acquisition of FABCBD and to Bayline remain subject to final approval from the TSX Venture Exchange. The High Tide shares issued for the acquisition of FABCBD and to Bayline are subject to a statutory hold period of four months and one day.

About High Tide Inc.

High Tide is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. High Tide is uniquely built around the cannabis consumer, with wholly diversified and fully integrated operations across all components of cannabis.

We seek Safe Harbor.