Mr. Raj Grover reports

HIGH TIDE WELCOMES BIDEN ADMINISTRATION MOVE TO RESCHEDULE CANNABIS

High Tide Inc. has welcomed today's confirmation by the United States Department of Justice that the Attorney General has proposed the reclassification of cannabis to a Schedule III substance, something that will initiate a formal rule making process as prescribed by Congress in the Controlled Substances Act.

"Today's news marks a historic moment for cannabis reforms in the United States, and we commend the Biden administration for taking this important step," said Raj Grover, founder and chief executive officer of High Tide.

High Tide's operations in the U.S. are not plant-touching, however reclassifying cannabis from Schedule I to Schedule III of the Controlled Substances Act will change the Internal Revenue Code, which will allow companies that are, to deduct business expenses from gross income.

"Rescheduling will support the growth of a legal, legitimate sector in the U.S. that will displace the illicit market. In the coming days, we will engage with the key financial exchanges to understand how this news might change their listing policies. Coming on the heels of Germany's partial adult-use legalization announcement in March, this development makes me even more excited about our international prospects, including our eventual goal of becoming a top five multistate operator in the U.S.," 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 and is the second-largest cannabis retailer in North America by store count. High Tide (HITI) 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 168 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in North America.
• 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 possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de 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 Brandz name.

High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies in 2021, 2022 and 2023 by The Globe and Mail's Report on Business Magazine, and was named as one of the top 10 performing diversified industries stocks in both the 2022 and 2024 TSX Venture 50. High Tide was also ranked No. 1 in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023.

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