Mr. Raj Grover reports
NASDAQ APPROVES HIGH TIDE'S APPLICATION TO LIST
High Tide Inc.'s application to list its common shares on the Nasdaq Capital Market has been approved. The company's shares are expected to begin trading on Nasdaq under the ticker symbol HITI on June 2, 2021.
High Tide will also retain its listing on the TSX Venture Exchange under the symbol HITI. The ticker used for High Tide's shares traded on the OTC Markets quotation system under the current symbol HITID will seamlessly transfer to the new ticker symbol HITI on the first day of trading on Nasdaq.
"I am immensely proud that less than three years after its inception High Tide will become the first major publicly traded cannabis retailer to be listed on Nasdaq. This listing makes our shares more accessible to a larger audience of both retail and institutional investors and enhances our ability to pursue larger [merger and acquisition] targets," said Raj Grover, president and chief executive officer of High Tide. "I want to thank all of our shareholders for their patience and the confidence they have shown in our team as we have been working through the approvals process. Listing our shares on Nasdaq is not an end in itself, rather it marks the beginning of a new chapter for High Tide, and I am confident that our team will continue to keep executing and driving value for our shareholders -- now on a grander scale," added Mr. Grover.
The company's listing on Nasdaq remains subject to satisfaction of all applicable listing and regulatory requirements, including, but not limited to, the declaration of effectiveness of the company's Form 40-F registration statement registering the common shares with the United States Securities and Exchange Commission. The company has already completed the process to ensure its shares are eligible for electronic clearing and settlement through the Depository Trust Company (DTC).
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 most profitable Canadian retailer of recreational cannabis as measured by adjusted EBIDTA (earnings before interest, taxes, depreciation and amortization) with 85 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 consumption accessory businesses including e-commerce platforms Grasscity, Smokecartel, CBDcity, FABCBD 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.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.