High Tide to Open Canna Cabana in Popular Year-Round Tourist Destination of Banff

• The Banff store is located on the main shopping street of Banff Avenue, serving 4 million tourists annually
  
  
• High Tide secured this premium location organically without any acquisition costs, in a premier market with limited availability

CALGARY, AB, Aug. 7, 2020 /CNW/ - High Tide Inc. ("High Tide" or the "Company") (CSE: HITI) (OTCQB: HITIF) (Frankfurt: 2LY) a retail-focused cannabis corporation enhanced by the manufacturing and distribution of cannabis lifestyle accessories, today announced that the Canna Cabana retail cannabis store located in Unit #L08/09 at 215 Banff Avenue in Banff, Alberta (the "Banff Store") will be opening on Wednesday, August 12, 2020 after receiving its license from Alberta Gaming Liquor and Cannabis on August 6. The Banff Store marks the Company's 28^th location in Alberta and 37^th retail cannabis store across Canada.

"As one of only two locations on Banff Avenue, the Banff Store is a significant addition to the Company's retail portfolio. Canna Cabana is conveniently accessible to consumers directly from Banff Avenue, which is a unique opportunity to serve the four million tourists who visit Banff year round, as well as local residents," said Raj Grover, President and Chief Executive Officer of High Tide. "This premium location was secured organically without any acquisition cost, and we are excited to bring our signature retail cannabis experience to this world-renowned tourist destination." added Mr. Grover.

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 eCommerce platforms Grasscity.com and CBDcity.com, lifestyle and licensed entertainment brand manufacturer Famous Brandz, and its wholesale distribution divisions RGR Canada Inc. and Valiant Distribution.

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. (TSX:APHA) (NYSE:APHA) and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB). 

For more information about High Tide Inc., please visit www.hightideinc.com and its profile page on SEDAR at www.sedar.com. 

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as "forward-looking statements" are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as "outlook", "expects", "intend", "forecasts", "anticipates", "plans", "projects", "estimates", "envisages, "assumes", "needs", "strategy", "goals", "objectives", or variations thereof, or stating that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.

Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of the Company to execute on its business plan and that the Company will receive one or multiple licenses from Alberta Gaming, Liquor & Cannabis, British Columbia's Liquor Distribution Branch, Alcohol and Gaming Commission of Ontario or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. business. The Company considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.

The forward–looking statements contained herein are current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.

SOURCE High Tide Inc.

Raj Grover, President & Chief Executive Officer of High Tide Inc.; Tel: [phone]; Email: [email protected]; Web: www.HighTideInc.com.