Canadian cannabis retail chain High Tide welcomes proposed U.S. cannabis administrative and occasional bill

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High tide that is Canada the most profitable recreational cannabis retailer by adjusted EBITDA1, and also operates several of the world’s most popular consumer accessories and hemp-derived CBD e-commerce platforms totaling nearly 100 million page visits in 20202 and reiterated its commitment to expand into the The United States The CAOA should come into force both through direct value-adding e-commerce acquisitions in the near future and through stationary sales.

“With eighteen states and Washington, DCAfter cannabis was legalized for adults and 37 states did so for medicinal cannabis, a majority of Americans already have access to cannabis, be it medicinal or recreational. This trend represents a huge opportunity for our e-commerce platforms regardless of state legalization, ”said Raj Grover, President & Chief Executive Officer of High Tide. “As our team is monitoring the progress of the CAOA and other cannabis reform initiatives in Congress, we have had several discussions with potential partners to ensure that High Tide is ready to enter the brick and mortar retail trade in cannabis. to start The United States as soon as this is permitted by the federal government, “added Mr. Grover.

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1

Adjusted EBITDA is a non-IFRS financial measure

2

According to data from Google Analytics and Data Leaders

ABOUT HIGH TIDE

High Tide is a retail-focused cannabis company that expands into the manufacture and distribution of consumer accessories. The company is the most profitable Canadian recreational cannabis retailer based on adjusted EBITDA, with 89 locations currently in Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s retail segment includes the Banners Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co., and NewLeaf Cannabis, with additional locations under development across the country. High Tide has served consumers through its established e-commerce platforms like Grasscity.com, Smokecartel.com and Dailyhighclub.com for over a decade, and more recently in the hemp CBD space through CBDcity.com and FABCBD.com and its wholesale distribution division from Valiant Distribution, including licensed entertainment product manufacturer Famous Brandz. High Tide’s strategy as the parent company is to expand and strengthen its integrated value chain while delivering a complete customer experience and maximizing shareholder value. High Tide’s top industrial investors include Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB). Neither the TSXV 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 press release.

CAUTION ON FORWARD-LOOKING STATEMENTS

Certain information in this press release constitutes forward-looking statements under applicable securities laws. All statements in this press release that are not historical facts may be considered forward-looking statements. Forward-looking statements are often identified by terms such as “may,” “should,” “anticipate,” “expect,” “potentially,” “believe,” “intend,” or deny these terms and similar expressions. Forward-looking statements in this press release include statements regarding the potential impact of the transaction on High Tide’s business and statements regarding High Tide’s ability to complete the transaction. While High Tide believes these assumptions are reasonable based on the information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements also necessarily involve known and unknown risks, including, but not limited to, risks related to general economic conditions; adverse industry events; Marketing costs; Loss of markets; future legislative and regulatory developments related to the cannabis retail markets inability to access sufficient capital from internal and external sources and / or inability to access sufficient capital on favorable terms; the cannabis retail industry in general; Income tax and regulatory affairs; High Tide’s ability to execute its business strategy; Competition; Currency and interest rate fluctuations; the COVID-19 pandemic at the national and global levels; and the government’s response to the COVID-19 pandemic in relation to the operation of retail stores, High Tide’s ability to complete the transaction, and other risks. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no guarantee that the plans, intentions or expectations on which they are set will materialize. Readers are cautioned that the assumptions used in making such forward-looking statements (including, but not limited to, the assumption that (i) High Tide’s financial condition and development plans will not change due to unforeseen events, (ii) continue to be made There will be a demand and market opportunity for High Tide’s product offerings; (iii) current and future economic conditions will not affect High Tide’s business and operations, nor will High Tide’s ability to take advantage of anticipated business opportunities, although taken into account by As reasonable for High Tide management at the time of preparation, may prove inaccurate and cause actual results to differ materially from those anticipated, and therefore should not place undue reliance on forward-looking statements.

Forward-looking statements, forward-looking financial information and other measures presented herein are not intended as guidelines or projections for the periods or future periods set forth herein, and in particular, past performance is not an indicator of future results and the results of High Tide in this press release may be is not an indication of future results for High Tide and is not an estimate, forecast, or projection. Forward-looking statements contained in this press release are expressly limited by this cautionary notice and reflect our expectations as of the date of this press release and therefore are subject to change thereafter. High Tide disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, except as required by law. Factors that could cause the anticipated opportunities and actual results to differ materially include, but are not limited to, the matters mentioned above and elsewhere in the public filings and reports of material changes from High Tide that are available and available on SEDAR will be.

This press release constitutes neither an offer to sell nor a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any other state securities laws and may not be used within. offered or sold The United States or to US persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available.

SOURCE High Tide Inc.