High Tide Enters into Private Label Partnerships for Cannabis 2.0 Products
CALGARY, September 13, 2021– High Tide Inc. (“High Tide” or the “Company”) (TSXV: HITI) (Nasdaq: HITI) (FSE: 2LYA), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced today two white label partnerships with Heritage Cannabis Holdings (Heritage) (CNSX: CANN), an industry-leading and vertically-integrated cannabis provider, and Loosh Inc. dba Loosh Brands, a privately held, next generation cannabis edibles and finished goods manufacturer. As per the terms of the agreements, and pending listing approval, Heritage and LOOSH will manufacture High Tide’s “Cabana Cannabis Co.” branded shatter and THC gummies, respectively, for distribution in Ontario, Manitoba, and Saskatchewan with the potential to expand into additional Canadian jurisdictions in due course.
“I am excited to announce High Tide’s new white label rollout which has been in the works for quite some time. We have taken a measured approach in launching our own house-branded products given the oversupply of branded biomass in the Canadian market. That’s why we are moving cautiously by making an entry into the 2.0 category which is much less crowded,” said Raj Grover, President and Chief Executive Officer of High Tide. “We are also in negotiations with Canadian licensed producers to bring select products from the FABCBD catalogue into our store network and look forward to expanding into other categories in due course as market dynamics evolve,” added Mr Grover.
“High Tide is one of the leading cannabis retailers in Canada with a wide reach in this rapidly growing market. We admire their focus on consumer education and best-in-class retailing, and are proud to partner with them to get High Tide-branded concentrate products in the hands of Canadian consumers,” said David Schwede, Chief Executive Officer and President of Recreational Cannabis at Heritage Cannabis. “This strategic relationship allows us to strengthen and expand our concentrate portfolio and provides the opportunity to further our partnership with one of the leading cannabis retailers in the country,” added Mr. Schwede.
“This pioneering private label production relationship with one of North America’s leading publicly-traded platforms exemplifies the distribution channels and commercial relationships that we at Loosh provide and service,” said Ilya Serebyrany, founder and CEO of LOOSH Inc. “We look forward to supporting a variety of sell-through and decentralized production relationships as the industry matures and we are pleased to support High Tide in executing on its no-capex manufacturing requirements,” added Mr. Serebyrany.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA, with 93 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s retail segment features the Canna Cabana, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its established ecommerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more recently in the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. 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 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 release.
For more information about High Tide Inc., please visit www.hightideinc.com and its profile page on SEDAR at www.sedar.com.
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