High Tide Announces Adoption of New Shareholder Rights Plans

Rhea-AI Summary

High Tide (Nasdaq/TSXV: HITI) approved a Temporary Shareholder Rights Plan and an Amended and Restated Shareholder Rights Plan, both dated June 26, 2026.

The Plans aim to maintain compliance with cannabis laws, protect cannabis licences, and promote fair treatment of shareholders in any unsolicited takeover bid, subject to TSXV and shareholder approvals.

Positive

• Two shareholder rights plans adopted to protect licences and shareholder interests
• Amended and Restated Rights Plan would be effective for three years if ratified
• TSXV acceptance obtained for Amended and Restated Rights Plan, subject to conditions
• Expanded Acquiring Person definition addresses new Ontario and BC cannabis ownership limits

Negative

• Plan effectiveness depends on shareholder ratification within six months of adoption
• Temporary Rights Plan will not be submitted for shareholder ratification in August 2026

News Market Reaction – HITI

-1.30%

-1.30% Session close to close

In the Jul 6 session, HITI declined 1.30%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

High Tide’s adoption of updated shareholder rights plans focuses on maintaining cannabis law complia...

Analysis

High Tide’s adoption of updated shareholder rights plans focuses on maintaining cannabis law compliance and fair treatment in unsolicited bids, while Canadian and German market shares of 12% and 14% underscore scale. Shareholder ratification timing and TSXV conditions remain key watchpoints.

Key Figures

Plan term: 3 years Ratification window: 6 months Canadian store count: 228 stores +5 more

8 metrics

Plan term 3 years Duration of Amended and Restated Shareholder Rights Plan if ratified

Ratification window 6 months TSXV condition for shareholder ratification of Amended Rights Plan after adoption

Canadian store count 228 stores Canna Cabana cannabis retail locations in Canada

International stores 1 location Canna Cabana international bricks-and-mortar presence

Canadian market share 12% High Tide share of Canadian cannabis retail market

German market share 14% Remexian share of German medical cannabis market

Import countries 19 countries Number of countries Remexian is licensed to import from

Top Growing streak 5 consecutive years Named one of Canada's Top Growing Companies as of 2025

Historical Context

5 past events · Latest: Jun 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 17	Partnership exposure	Positive	-6.0%	Remexian showcased exclusive German medical cannabis partnerships at Berlin event.
Jun 15	Earnings report	Positive	+12.0%	Record Q2 2026 revenue, higher margins and record adjusted EBITDA with positive net income.
Jun 15	Credit facilities	Positive	-2.6%	Credit approval for C$40M in new senior secured Bank of Montreal facilities.
Jun 15	Retail acquisition	Positive	-2.6%	Agreement to acquire Northern Helm, adding four Ontario cannabis stores for $7.74M.
Jun 10	Store openings	Positive	-1.7%	Opening one Canna Cabana store and planning another, expanding Canadian footprint.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history shows HITI often trading lower after ostensibly positive operational or strategic news, with four of the last five headlines followed by negative next‑day moves.

Key Terms

shareholder rights plan, amended and restated shareholder rights plan, acquiring person, take-over bid, +1 more

5 terms

shareholder rights plan regulatory

"the adoption of a shareholder rights plan agreement (the "Temporary Shareholder Rights Plan")"

A shareholder rights plan is a board-approved defense that makes an unsolicited takeover harder by triggering measures—such as issuing extra shares or special rights—if one investor accumulates a large stake without board approval. Think of it as a temporary roadblock that protects existing management and gives the company time to seek better offers. It matters to investors because it can affect share price, takeover chances, and whether a competing buyer can quickly buy control.

amended and restated shareholder rights plan regulatory

"an amended and restated shareholder rights plan (the "Amended and Restated Shareholder Rights Plan")"

A shareholder rights plan is a corporate defense tool that gives existing shareholders special rights that kick in if a single buyer acquires a large stake; an "amended and restated" version means the board has updated the original plan and replaced it in full. It works like a safety button that changes the rules for acquiring shares—often diluting a bidder or expanding who can buy cheaply—to influence takeover dynamics and thus affects potential changes in control and shareholder value.

acquiring person regulatory

"expanding the definition of "Acquiring Person" to include (a) cannabis retail operator"

An acquiring person is an individual or entity that buys or otherwise gains a significant ownership stake in a publicly traded company, often enough to influence control, board composition, or corporate strategy. Think of it like a new homeowner who purchases enough rooms in a shared house to decide how the house is run; such a change can affect management decisions, dividend policies, and how the market values the company.

take-over bid financial

"value-enhancing alternatives to any unsolicited take-over bid."

A take-over bid is a formal offer by a buyer to purchase shares of a company, often enough to gain control of it. Think of it like someone making a public offer to buy enough houses on a block so they control the neighborhood — it can push the target’s share price up, change who runs the business, and alter future dividends or strategy, so investors care because it affects the value and control of their holdings.

management information circular regulatory

"will be set out in the Company's Management Information Circular to be mailed"

A management information circular is a document sent to shareholders ahead of a company meeting that explains who is asking for votes, what decisions will be made, and why management recommends a particular outcome. Like an instruction booklet and argument sheet combined, it lays out details such as board nominees, executive pay, major transactions and any conflicts, helping investors decide how to vote and judge whether leadership choices could affect the company’s future value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CALGARY, AB, July 6, 2026 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its board of directors (the "Board") has approved the adoption of a shareholder rights plan agreement (the "Temporary Shareholder Rights Plan"), and an amended and restated shareholder rights plan (the "Amended and Restated Shareholder Rights Plan", and together with the Temporary Shareholder Rights Plan, the "Plans") pursuant to agreements entered into with Olympia Trust Company, as Rights Agent, dated June 26, 2026. The Amended and Restated Shareholder Rights Plan amends and restates the shareholder rights plan originally adopted by the Board on April 10, 2025 and ratified by the Company's shareholders at the Company's annual general and special meeting held on May 30, 2025 to include the measures set out in the Temporary Shareholder Rights Plan.

The purpose of the Plans is to ensure the Company maintains compliance with applicable cannabis laws and is able to maintain its cannabis licenses, and to ensure that all shareholders are treated fairly in connection with any offer to acquire the outstanding common shares of the Company and that the Board has the opportunity to identify, solicit, develop and negotiate value-enhancing alternatives to any unsolicited take-over bid. The Plans have not been adopted in response to, or in anticipation of, any known or anticipated take-over bid or similar transaction.

The key amendments reflected in the Plans include, expanding the definition of "Acquiring Person" to include (a) cannabis retail operator license holders in Ontario, who together with their affiliates, would cause or would reasonably be expected to cause the Company to be non-compliant with Section 2 of General, O. Reg. 468/18 made under the Cannabis Licence Act, 2018 (Ontario), and (b) cannabis retail store licence holders in British Columbia who would cause or would reasonably be expected to cause the Company to be non-compliant with requirements applicable to a cannabis retail store licence relating to holding or having control or influence over more than the prescribed number of licences, or the requirements set out in Sections 6 and 7 of Cannabis Licensing Regulation, BC Reg. 202/2018; and (ii) other amendments of an administrative nature, including correcting statutory references and updating defined terms. The Plans are otherwise similar to rights plans adopted by other Canadian companies and ratified by their shareholders, except for provisions that ensure the Company maintains compliance with applicable cannabis laws and is able to maintain its cannabis licenses.

Because the Company's existing Shareholder Rights Plan may only be amended with shareholder approval, the Board adopted the Temporary Shareholder Rights Plan as an interim measure to address the new retail operator restrictions pending shareholder approval of the Amended and Restated Shareholder Rights Plan. The Company does not intend to seek shareholder ratification of the Temporary Shareholder Rights Plan at the August 11, 2026 meeting. If the Amended and Restated Shareholder Rights Plan is ratified by shareholders, the Temporary Shareholder Rights Plan will lapse and the Amended and Restated Shareholder Rights Plan will serve as the single, comprehensive rights plan going forward.

If ratified by shareholders of the Company, the Amended and Restated Shareholder Rights Plan will be in effect for a term of three years.

The Amended and Restated Shareholder Rights Plan has been accepted by the TSXV, subject to certain conditions, including ratification of the Amended and Restated Shareholder Rights Plan by the Company's shareholders within six months of its adoption.

A summary of the principal terms and conditions of the Amended and Restated Shareholder Rights Plan will be set out in the Company's Management Information Circular to be mailed to shareholders prior to the shareholders meeting on August 11, 2026. A copy of each of the Plans will be filed on the Company's profile pages on SEDAR+ and EDGAR.

ABOUT HIGH TIDE

High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. Its wholly owned subsidiary, Canna Cabana, is the second-largest cannabis retail brand globally. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:

Retail: Canna Cabana™ is the largest cannabis retail chain in Canada, with 228 domestic and 1 international location. The Company's Canadian bricks-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario, holding a growing 12% share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. The Company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived CBD products. In 2025, the Company became the first North American cannabis operator to launch a bricks-and-mortar presence in Germany.

Medical Cannabis Distribution: Remexian Pharma GmbH is a leading German pharmaceutical company, with a 14% share of the German medical cannabis market, built for the purpose of importation and wholesale of medical cannabis products at affordable prices. Among all German medical cannabis procurers, Remexian has one of the most diverse reaches across the globe and is licensed to import from 19 countries including Canada.

High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies by the Globe and Mail's Report on Business in 2025 for the fifth consecutive year and was recognized as a top 50 company by the TSX Venture Exchange (the "TSXV") in 2022, 2024 and 2025. High Tide was also ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023. To discover the full impact of High Tide, visit www.hightideinc.com. For investment performance, don't miss the High Tide profile pages on SEDAR+ and EDGAR.

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.

CONTACT INFORMATION

Media Inquiries
Omar Khan
Chief Communications and Public Affairs Officer
High Tide Inc.
omar@hightideinc.com
403-770-3080

Investor Inquiries
Vahan Ajamian
Capital Markets Advisor
High Tide Inc.
vahan@hightideinc.com 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements are often, but not always, identified by words such as "expect", "intend", "plan", "believe", "anticipate", "estimate", "may", "will", "could", "should" and similar expressions. Forward-looking statements in this news release include, without limitation, statements relating to: the receipt of final approval from the TSXV of the Plans, and the ratification by the Shareholders of the Amended and Restated Shareholder Rights Plan.

Forward-looking statements are based on management's current expectations and assumptions as of the date of this news release. Forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially, including, without limitation: delays or inability to obtain required regulatory approvals or authorizations; changes in competitive, market or consumer conditions; operational risks associated with opening and operating new stores; and the other risk factors discussed under the heading "Non-Exhaustive List of Risk Factors" in Schedule A to our current annual information form, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE High Tide Inc.

FAQ

What shareholder rights plans did High Tide (HITI) adopt on July 6, 2026?

High Tide adopted a Temporary Shareholder Rights Plan and an Amended and Restated Shareholder Rights Plan. According to High Tide, these plans are designed to support cannabis law compliance and ensure fair treatment of shareholders during any unsolicited takeover bid for the company’s common shares.

Why did High Tide (HITI) introduce new shareholder rights plans in 2026?

High Tide introduced the plans to maintain cannabis law compliance and protect its licences. According to High Tide, the Plans also aim to ensure all shareholders are treated fairly and give the board time to evaluate value-enhancing alternatives to any unsolicited takeover offer.

How long will High Tide’s Amended and Restated Shareholder Rights Plan be in effect if approved?

If ratified by shareholders, the Amended and Restated Shareholder Rights Plan will be effective for three years. According to High Tide, shareholder approval is expected to be sought at the August 11, 2026 meeting, with TSXV conditions requiring ratification within six months of adoption.

How do High Tide’s shareholder rights plans affect cannabis ownership rules in Ontario and British Columbia?

The Plans expand the definition of “Acquiring Person” to cover certain Ontario and British Columbia cannabis licence holders. According to High Tide, this helps prevent ownership structures that could reasonably be expected to make the company non-compliant with provincial cannabis retail regulations and licence limits.

Has the TSXV approved High Tide’s Amended and Restated Shareholder Rights Plan?

The TSXV has accepted the Amended and Restated Shareholder Rights Plan, subject to conditions. According to High Tide, a key condition is shareholder ratification within six months of adoption, planned to be sought at the shareholders meeting scheduled for August 11, 2026.

What happens to High Tide’s Temporary Shareholder Rights Plan if shareholders ratify the amended plan?

If shareholders ratify the Amended and Restated Shareholder Rights Plan, the Temporary Shareholder Rights Plan will lapse. According to High Tide, the amended plan would then function as the single, comprehensive shareholder rights plan for the company going forward.