Mr. Raj Grover reports

HIGH TIDE OPENS CANNA CABANA STORE IN FORMER FIRE & FLOWER LOCATION

High Tide Inc.'s Canna Cabana retail cannabis store located at 101 Sage Valley Common NW, Calgary, Alta., will begin selling recreational cannabis products and consumption accessories for adult use today. This opening will mark High Tide's 157th Canna Cabana-branded retail cannabis location in Canada and the 78th in Alberta. Calgary is also the home of High Tide's headquarters and is the largest city in Canada's fourth-largest and most-affluent province.

This strategically situated store, which used to host a Fire & Flower, is located in the rapidly expanding northwest section of Calgary and is in a major retail power centre, just steps away from an Alberta-based liquor and grocery store chain. The site is surrounded by high-density, multifamily residences, with ground being broken on additional homes within walking distance.

"I'm excited to announce the opening of another Canna Cabana location in Northwest Calgary to further our retail dominance in one of Canada's fastest-growing cities. Our tried, tested and perfected discount club model continues to set us apart from our peers. While the Canadian cannabis industry is facing ongoing challenges, including CCAA [Companies' Creditors Arrangement Act] filings, our strong business fundamentals are assisting us in generating positive free cash flow from our operations, giving us the opportunity to further expand our retail footprint across the country," said Raj Grover, president and chief executive officer of High Tide.

"With the opening of this Sage Valley location in Northwest Calgary, we created additional value by taking over this fully built Fire and Flower location, saving on build-out costs of approximately $300,000. In this challenging retail environment, every dollar counts, so this site was a nice value-add to our retail portfolio. I look forward to more organic store announcements in the coming weeks," 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, including:

• Bricks and mortar retail: Canna Cabana is the largest non-franchised cannabis retail chain in Canada, with 156 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and growing. In 2021, Canna Cabana became 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, Smokecartel, Dailyhighclub and Dankstop.
• CBD (cannabidiol): High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals, FABCBD, blessedcbd.de and blessedcbd.co.uk.
• Wholesale distribution: High Tide keeps that cannabis category stocked with wholesale solutions via 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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