02:39:10 EDT Sun 01 Aug 2021
Enter Symbol
or Name

Login ID:
High Tide Inc
Symbol HITI
Shares Issued 236,380,280
Close 2020-11-17 C$ 0.18
Recent Sedar Documents

Meta Growth, High Tide receive TSX-V OK for listing

2020-11-17 22:55 ET - News Release

See News Release (C-META) Meta Growth Corp

Mr. Mark Goliger of Meta Growth reports


Further to joint press releases dated Aug. 21, 2020, and Oct. 28, 2020, relating to the arrangement agreement entered into between High Tide Inc. and Meta Growth Corp. on Aug. 20, 2020, pursuant to which 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), the TSX Venture Exchange has granted the company final approval for the listing of: (i) 436,153,806 of the company's common shares; (ii) 40,076,412 warrants, each exercisable for one common share of the company at a price of 35 cents per share until Feb. 6, 2023; and (iii) $21.15-million in secured convertible debentures of Meta, which are convertible into common shares of the company at a price of 22 cents per share until Nov. 30, 2022, and bear interest at a rate of 8 per cent per annum.

It is anticipated that the transaction will close on or about Nov. 18, 2020. Further, High Tide is expected to be listed for trading on the TSX-V as a Tier 2 industrial issuer, and the securities of Meta are expected to be delisted from the TSX-V as of Nov. 19, 2020.

Further information about closing of the transaction is available on the SEDAR profiles of High Tide and Meta. High Tide and Meta will provide a further update once the transaction has closed.

Other transactions

The company issued an aggregate of 1,176,470 common shares of High Tide to certain holders of unsecured convertible debentures of the company, in satisfaction of the annual amount of interest due to the holders. The calculation of the number of interest shares issued was based on the volume-weighted average trading price of the common shares of High Tide during the 10 trading days ending Nov. 14, 2020. The interest shares are subject to a statutory hold period of four months plus one day from the date of issuance.

Separately, the company also recently authorized the issuance of 529,412 common shares in aggregate to certain members of senior management of the company, assessed as a bonus at the discretion of the board of directors and awarded based on their performance over the past year. Lastly, the company authorized the issuance of 775,476 common shares in aggregate to the independent members of the board of directors as compensation for their services over the past year. The company anticipates that the issuance of these shares will take place on or about Nov. 20, 2020. All of these common shares are subject to a statutory hold period of four months plus one day from the date of issuance.

Furthermore, the company has also agreed with certain directors, officers, consultants and employees of the company to cancel an aggregate of 7.1 million stock options.

Each of the transactions set forth above is subject to the prior approval of the TSX-V.

About High Tide Inc.

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of cannabis lifestyle accessories. Its premier Canadian retail brand Canna Cabana spans 34 locations in Ontario, Alberta and Saskatchewan, with additional locations under development across Canada. High Tide has been serving cannabis consumers for over a decade through its numerous lifestyle accessory enterprises, including e-commerce platforms Grasscity and CBDcity, lifestyle and licensed entertainment brand manufacturer Famous Brandz, and its wholesale distribution division Valiant Distribution.

High Tide's strategy as a parent company is to extend and strengthen the company's integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. and Aurora Cannabis Inc.

About Meta Growth Corp.

Meta is a leader in secure, safe and responsible access to legal recreational cannabis in Canada. Through its Canada-wide network of Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis recreational cannabis retail stores, Meta enables the public to gain knowledgeable access to Canada's network of authorized licensed producers of cannabis. Meta is listed on the TSX Venture Exchange under the symbol META.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.