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High Tide Inc
Symbol HITI
Shares Issued 436,153,806
Close 2020-11-17 C$ 0.18
Recent Sedar Documents

High Tide acquisition of Meta, TSX-V listing

2020-11-17 18:42 ET - New Listing

Effective at the opening on Thursday, Nov. 19, 2020, the common shares, warrants and debentures of the company will commence trading on the TSX Venture Exchange. The company is classified as an industrial company.

Pursuant to the terms of an arrangement agreement dated Aug. 20, 2020, between High Tide Inc. and Meta Growth Corp., High Tide has agreed to acquire all of the issued and outstanding common shares of Meta by way of a plan of arrangement under the provisions of the Business Corporations Act (Alberta). Under the agreement, each Meta shareholder will be entitled to receive 0.824 of a common share of High Tide for each common share of Meta held. Further, High Tide will assume all of the covenants and obligations of Meta under the existing common share purchase warrants of Meta, and the existing convertible secured debentures of Meta will remain debt obligations of Meta but will become convertible into common shares of High Tide.

New listing -- common shares

Corporate jurisdiction:  Alberta

Capitalization:  unlimited common shares with no par value, of which 436,153,806 common shares are issued and outstanding

Escrowed shares:  43,729,817 common shares

Transfer agent:  Capital Trust Agency

Trading symbol:  HITI

Cusip No.:  42981E 10 4

New listing -- warrants

Capitalization on warrants:  40,076,412 warrants issued and outstanding

Transfer agent:  TSX Trust Company

Trading symbol:  HITI.WT

Cusip No.:  42981E 12 0

The warrants were issued pursuant to the prospectus offering of Meta, which closed on Feb. 6, 2020. One whole warrant entitles the holder to purchase one common share of High Tide at a price of 35 cents per share and will expire on Feb. 6, 2023.

New listing -- debentures

Capitalization on debentures:  21,150 $1,000 debentures issued and outstanding

Transfer agent:  TSX Trust Company

Trading symbol:  HITI.DB

Cusip No.:  42981E AB 0

Details of the debentures

Maturity date:  Nov. 30, 2022

Interest:  Interest at the rate of 8 per cent per annum is payable semi-annually in arrears on Nov. 30 and May 31 of each year commencing May 31, 2019.

Interest day count:  360

Interest start date:  Nov. 23, 2018

Subordination:  The debentures are direct senior, secured and unsubordinated debt obligations of Meta, a wholly owned subsidiary of High Tide. Each debenture will rank pari passu with one another and, subject to certain permitted encumbrances identified in the debenture indenture governing the debentures, will rank in priority to all present and future indebtedness of Meta.

Conversion:  The debentures are convertible into common shares of the High Tide at 22 cents per share at any time prior to: (a) the business day immediately preceding the maturity date; and (b) the date fixed for redemption pursuant to the debenture indenture governing the debentures.

Clearing and settlement:  The debentures will clear and settle through CDS and DTC.

Board lot:  The debentures will trade in a board lot size of $1,000 face value.

See the company's news release dated Nov. 17, 2020, for further information.

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