Mr. Raj Grover reports

HIGH TIDE TO OPEN CANNA CABANA LOCATION IN ST. THOMAS, ONTARIO

High Tide Inc.'s Canna Cabana retail cannabis store located at 1010 Talbot St., St. Thomas, Ont., will begin selling recreational cannabis products and consumption accessories for adult use on Sunday, July 30. This opening marks High Tide's 154th Canna Cabana branded retail cannabis location in Canada and its 50th in the province of Ontario, Canada's largest province.

Located in the heart of Southwestern Ontario's industrial belt and known as the Railway City, St. Thomas grew around passenger and commercial railways during the 1900s, transitioning into a major centre for automobile manufacturing. This Canna Cabana location is on a major thoroughfare in St. Thomas, steps away from a provincially owned liquor retail chain, a major discount retailer and a national grocery chain. Cabana Club and its Elite members can take advantage of this strategic location while completing other day-to-day shopping tasks.

"Opening our 50th Canna Cabana location in Ontario is a huge milestone for us, and I am so thankful to our Elite and Cabana Club members who continue to support our innovative and unique discount club model. From our first Ontario store opening in 2020, we have maintained our focus on executing our exemplary retail strategy, securing top locations in high-density retail neighbourhoods, including major power centres, and this store location is an excellent example of this dedication," said Raj Grover, president and chief executive officer of High Tide.

"This location will serve as a pilot for a potential new concept that focuses heavily on our proprietary Fastendr retail kiosk technology, given the success we are seeing with the current rollout of this technology across our network. The remainder of 2023 will see us open more Canna Cabana locations as we continue to expand our footprint in Canada's largest province. With the current strength of our Canadian bricks-and-mortar sales, every new high-quality location we add brings us another step closer to achieving our previously communicated goal of achieving positive free cash flow by the end of this calendar year. I look forward to providing the market with a meaningful update in this regard when we report our financials for the third fiscal quarter by mid-September," added Mr. Grover.

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.

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