CALGARY, Dec. 14, 2018 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) today announced that the Company’s common shares are scheduled to commence trading publicly on the Canadian Securities Exchange (“CSE”) under the stock symbol “HITI” at the opening of the market on Monday, December 17, 2018.
Over the past year, the High Tide group of companies – RGR Canada, Famous Brandz, Smoker’s Corner, Canna Cabana and the majority of KushBar – was reorganized and strengthened to capitalize on the legalization of recreational cannabis that occurred on October 17, 2018. The Company has successfully achieved many milestones during this short period of time including, but not limited to, hiring exceptional employees, completing a brokered private placement of special warrants (“Brokered Special Warrants”), setting internal sales records for wholesale accessories, completing a split of its common shares, opening its first four retail cannabis stores in Alberta while currently also having more than 20 under construction, securing nearly 20 retail locations in Ontario, obtaining receipt for its final prospectus from the Alberta Securities Commission and, most recently, announcing a brokered private placement of convertible debentures.
The Company also recently issued a total of 6,100,000 special warrants for acquisition purposes, with vesting of the special warrants conditional upon the closing of multiple transactions (“Acquisition Special Warrants”). Any transactions not closed will result in the expiry of the applicable amount of the Acquisition Special Warrants without any common shares of High Tide being issued. The terms of certain Acquisition Special Warrants vary from those of the Brokered Special Warrants.
High Tide is also pleased to announce that President and CEO Raj Grover has been replaced in his role as Secretary-Treasurer for the Company and that the Board of Directors has appointed Shimmy Posen as Secretary-Treasurer. Mr. Posen is a Partner at Garfinkle Biderman LLP in Toronto where he practices in the firm’s corporate commercial and securities groups, with an emphasis on corporate finance and mergers and acquisitions.