Mr. Vahan Ajamian reports
HIGH TIDE ANNOUNCES FILING OF FORM 40-F WITH SEC FULFILLING A SIGNIFICANT MILESTONE FOR THE NASDAQ LISTING
High Tide Inc. has filed a Form 40-F registration statement with the United States Securities and Exchange Commission, fulfilling a significant milestone in the process for High Tide to list its common shares on the Nasdaq Stock Market LLC. A copy of the Form 40-F is available on the company's website.
"We were the first Canadian cannabis retailer to pursue this prestigious listing on Nasdaq and we believe it will allow us to greatly expand our shareholder base, enhance shareholder value and accelerate our already aggressive M&A [merger and acquisition] initiatives in Canada, Europe and the United States," said Raj Grover, president and chief executive officer of High Tide. "We are currently in several discussions with potential acquisition targets in these jurisdictions and look forward to updating the market soon," added Mr. Grover.
The listing of the company's common shares on Nasdaq remains subject to the approval of Nasdaq and the satisfaction of all applicable listing and regulatory requirements, including the effectiveness of the Form 40-F.
High Tide's common shares will continue to trade on the OTCQB under the ticker symbol HITIF until Nasdaq approval and uplisting. High Tide's common shares will continue to trade on the TSX Venture Exchange under the ticker symbol HITI post-Nasdaq uplisting. There can be no assurance, however, that Nasdaq approval will be received.
Following receipt of all required approvals, the company will issue a press release announcing its first trading date on Nasdaq.
Release of first quarter 2021 financial results
The company will release its financial and operational results for the quarter ended Jan. 31, 2021, after market close on April 1, 2021. High Tide's first quarter 2021 financial and operational results will be available on SEDAR and on the company's website.
Following the release of its first quarter 2021 financial and operational results, High Tide will host a conference call with Mr. Grover and Rahim Kanji, chief financial officer, at 5 p.m. Eastern Time on April 1, 2021. The conference call will discuss High Tide's first quarter 2021 financial and operational results and updates on the company's plans for 2021.
United States/Canada participant toll-free dial-in number: 833-570-1148
U.S./Canada participant international dial-in number: 914-987-7095
Conference ID: 5128837
In order to join the conference call, all speakers and participants will be required to provide the conference ID listed above.
Encore replay information (available until April 8, 2021)
Toll-free encore dial-in number: 855-859-2056
Encore dial-in number: 404-537-3406
Conference ID: 5128837
In addition to the toll-free number listed above, participants can also dial 800-585-8367 to access the encore.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of smoking accessories. The company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 77 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. High Tide's strategy as a parent company is to extend and strengthen its 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.
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