High Tide Recognized as a Top 10 Ranked Company in the Diversified Industries Sector by the TSX Venture 50 for 2024
This Marks the Company's Second Time Making This Prestigious List in Three Years
CALGARY, AB, Feb. 22, 2024 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it has been recognized for the second time in three years by the TSX Venture Exchange (the "TSXV") as a 2024 Top 50 Performer. High Tide ranks fifth in the top 10 diversified industries sector and is the only Canadian cannabis company included in the rankings. The TSX Venture 50 ranks the strongest companies on the TSX Venture Exchange by share price appreciation, trading volume amount, and market capitalization growth. More detailed results and a video highlighting High Tide can be found at www.tsx.com/Venture50
"We are thrilled to see our name yet again amongst the top-performing companies on the 2024 TSX Venture 50. This recognition follows our fiscal year-end 2023 financial results, where we again demonstrated our commitment to operational excellence, achieving our second quarter of free cash flow while continuing to grow organically," said Raj Grover, Founder and Chief Executive Officer of High Tide.
"In the challenging and hyper-competitive landscape of Canadian cannabis, I am proud of what our team has accomplished. This ongoing recognition by the TSXV and other noteworthy publications, such as The Globe and Mail's Report on Business and The Financial Times, demonstrates that independent, highly respected institutions continue to recognize the success of High Tide's business model. As we continue to expand our footprint in Canada and potential emerging international markets such as Germany, I am confident that this recognition will continue," added Mr. Grover.
High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant and is the second-largest cannabis retailer in North America by store count1. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:
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1 As reported by ATB Capital Markets based on store counts as of February 8, 2024 |
Bricks & Mortar Retail: Canna Cabana™ is the largest non-franchised cannabis retail chain in Canada, with 163 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in North America.
Retail Innovation: Fastendr™ is a unique and fully automated technology that integrates retail kiosks and smart lockers to facilitate a better buying experience through browsing, ordering and pickup.
E-commerce Platforms: High Tide operates a suite of leading accessory sites across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.
CBD: High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide keeps that cannabis category stocked with wholesale solutions via Valiant™.
Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and license agreements under the Famous Brandz™ name.
High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies in 2021, 2022 and 2023 by the Globe and Mail's Report on Business Magazine, and was named as one of the top 10 performing diversified industries stocks in both the 2022 and 2024 TSX Venture 50. High Tide was also ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023. To discover the full impact of High Tide, visit www.hightideinc.com. For investment performance, don't miss the High Tide profile pages on SEDAR+ and EDGAR.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain "forward-looking information" and "forward-looking statements within the meaning of applicable securities legislation. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements herein include, but are not limited to, statements regarding: future recognition of the Company in publications and rankings. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including but not limited to the risk factors discussed under the heading "Non-Exhaustive List of Risk Factors" in Schedule A to our current annual information form, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
SOURCE High Tide Inc.
Media Inquiries: Omar Khan, Chief Communications and Public Affairs Officer, High Tide Inc., [email protected], 403-770-3080; Investor Inquiries: Vahan Ajamian, Capital Markets Advisor, High Tide Inc., [email protected]
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