High Tide Ventures Inc. Changes its Name to High Tide Inc. and Completes Share Split

Published: October 11, 2018

High Tide Ventures Inc. Changes its Name to High Tide Inc. and Completes Share Split

High Tide Ventures Inc. recently changed its name to High Tide Inc., pursuant to a shareholder resolution passed at a special meeting of shareholders on August 24, 2018. As a result of the name change, High Tide has changed its website address to www.HighTideInc.ca and has begun updating its name and associated branding where necessary. Further, and pursuant to a separate resolution passed at the Meeting, shareholders approved a split of High Tide’s issued and unissued common shares on the basis of 2.76 post-split shares for 1.0 pre-split share. The Stock Split was subsequently completed on October 4, 2018 and, for illustrative purposes, would have the effect of changing the most recent price of the Company’s common shares from $1.38 to $0.50 per share.

Now that High Tide has closed its recent private placement of special warrants, with gross proceeds in excess of $18,300,000 from over 135 investors, the Company is focused on achieving its next milestone. “As we prepare to become a publicly-traded company, we are keen to continue receiving valuable feedback from our current and prospective investors, as well as any other key stakeholders”, said Raj Grover, President and Chief Executive Officer. “By removing the word “Ventures” from the Company’s name, we have eliminated any confusion associated with the term ‘venture capital’ as well as any technology-related implications. And by completing the Stock Split, we are positioning our common shares to provide shareholders with greater liquidity upon being listed for trading on the open market,” added Mr. Grover.

High Tide is currently in possession of 22 development permits for retail cannabis stores in Alberta and expects to open the maximum permitted number of 37 stores in the province. The Company is also awaiting its wholesale cannabis permit for Saskatchewan, expects to establish the maximum allowed number of eight retail cannabis stores in British Columbia, and has dispatched a real estate team to secure what it expects to be a large number of leases for retail cannabis locations in Ontario. High Tide is in the process of becoming a listed issuer on the Canadian Securities Exchange (“CSE”), subject to approval of the CSE and the review of its preliminary prospectus by the Alberta Securities Commission (“ASC”). The Company has submitted its preliminary prospectus to the ASC and has reserved “HITI” as its ticker symbol on the CSE. However, there can be no guarantee that the CSE will accept the listing of the common shares or that the ASC will issue a receipt for the Company’s final prospectus.

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