CALGARY, May 15, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HITIF) (FRA:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has received approval from The Depository Trust Company (“DTC”) to make the Company’s common shares eligible to be electronically cleared and settled through DTC (“DTC Eligibility”). DTC Eligibility makes High Tide’s common shares more accessible to investors in the United States, which is expected to result in higher volumes given the additional availability of shares for trading.
DTC is a subsidiary of the Depository Trust and Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly-traded companies. DTC Eligibility incorporates an electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investors. “Successfully obtaining DTC Eligibility and gaining access to more investors in the United States is a significant milestone for High Tide. We greatly look forward to becoming part of more investor portfolios outside of Canada and welcoming new shareholders to our Company,” said Raj Grover, President and Chief Executive Officer of High Tide. DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the U.S. Securities and Exchange Commission.