Mr. Andy Palalas reports
HIGH TIDE SECURES JANE WEST BRAND LICENSE FOR CONSUMPTION ACCESSORIES
High Tide Inc.'s wholly owned subsidiary, Valiant Distribution Canada Inc., has signed a trademark licence agreement with JW Homegoods LLC to use the Jane West and JW trademarks for a term of two years. Jane West is a high-profile American cannabis activist, influencer and founder of her global lifestyle brand. The Jane West licence grants Valiant the right to manufacture, promote, advertise, distribute and sell certain types of consumption accessories in Canada, the United States, the United Kingdom and the European Union.
The royalty-based merchandising agreement includes the production of vaporizers, glass filtration devices, grinders and rolling trays, among other items. "We are excited to launch Jane West-branded products into the international legal smoke shop market as soon as possible, following the success of her established glassware line that has been widely distributed across North America," said Andy Palalas, chief revenue officer of High Tide. "As the founder of Women Grow, creator of her popular glassware line and developer of a rapidly growing set of packaging partnerships, Jane is a visionary and we will be privileged to work alongside her to develop her next line of consumption accessories," added Mr. Palalas. Under its wholesale business segment, High Tide expects to design and distribute these new products as part of the established Famous Brandz line of consumption accessories, which currently includes the brands of Snoop Dogg Pounds, Cheech and Chong's Up In Smoke, Trailer Park Boys, Jay and Silent Bob, Guns N' Roses, and more.
Furthermore, the company has also approved the grant of 16.2 million stock options to purchase shares to certain directors, officers, consultants and employees. The options have an exercise price of 20 cents per common share and have a term of three years. Subject to the terms and conditions of the company's stock option plan, which was approved by shareholders of the company at its annual general and special meeting held on July 24, 2019, the options shall vest: (i) 25 per cent on the grant date; (ii) 25 per cent on the first anniversary of the grant date; (iii) 25 per cent on the date that is 18 months following the grant date; and (iv) 25 per cent on the date that is the second anniversary of the grant date.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 66 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its numerous lifestyle accessory businesses including e-commerce platforms Grasscity and CBDcity, and its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz.
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