Mr. Vahan Ajamian reports

HIGH TIDE FILES FINAL BASE SHELF PROSPECTUS TO REPLACE EXPIRED BASE SHELF PROSPECTUS

In order to replace its prior base shelf prospectus that expired on May 22, 2023, High Tide Inc. has filed a final short form base shelf prospectus to provide the company with the flexibility to take advantage of financing opportunities and favourable market conditions, if and when needed, during the 25-month period that the prospectus remains effective.

The prospectus has been filed in each of the provinces and territories in Canada. The prospectus enables the company to offer, issue and sell, from time to time: common shares, warrants, units, subscription receipts, debt securities and convertible securities, or any combination of such securities, for up to an aggregate offering price of $100-million (or its equivalent), in one or more transactions during the effective period.

The company has also filed a corresponding shelf registration statement relating to the securities with the United States of America Securities and Exchange Commission under the U.S./Canada multijurisdictional disclosure system.

The company may also use the prospectus in connection with an at-the-market distribution in accordance with applicable securities laws, which would permit securities to be sold on behalf of the company through the TSX Venture Exchange, the Nasdaq Stock Exchange or other existing trading markets, as further described in the applicable prospectus supplement. To date, no agreement has been entered into with respect to such a distribution.

The company may use the net proceeds from the sale of securities for general corporate purposes, capital projects, internal expansion, or for the acquisition of other businesses, assets or securities by the company or one of its subsidiaries.

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, including:

• Brick-and-mortar retail: Canna Cabana is the largest non-franchised cannabis retail chain in Canada, with 154 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and growing. Canna Cabana is also the first cannabis discount club retailer in Canada.
• Retail innovation: Fastendr is a unique and fully automated technology that integrates retail kiosks and smart lockers to facilitate a better buying experience through browsing, ordering and pickup.
• E-commerce platforms: High Tide operates a suite of leading accessory sites across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com and Dankstop.com.
• CBD (cannabidiol): High Tide continues to cultivate the potential of CBD globally through Nuleafnaturals.com, FABCBD.com and BlessedCBD.co.uk.
• Wholesale distribution: High Tide keeps that cannabis category stocked with wholesale solutions through Valiant.
• Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and licence agreements under the Famous Brand name.

High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies in both 2021 and 2022 by the Globe and Mail's Report on Business Magazine, and was ranked No. 1 in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023.

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