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High Tide Announces Appointment of Two New Directors, and Appointment of Two Advisors with Focus on Real Estate and Artificial Intelligence

(Neutral)
(Positive)
Tags
management AI

High Tide (Nasdaq: HITI) announced board renewal effective March 2, 2026, naming Kathleen Skerrett and Menashe Kestenbaum as directors and adding David Wallach and Filip Ernest to the advisory board.

The company granted 123,558 RSUs and 25,000 options at a $3.43 strike for three years to directors, advisors and consultants, and highlighted retail scale (219 Canadian locations, ~12% domestic share) and expanded tech/AI and real estate expertise.

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Positive

  • Board additions add securities, governance and dual-listing expertise
  • Advisors appointed bring real estate and AI/e-commerce capabilities
  • Grants of 123,558 RSUs and 25,000 options align insiders with long-term value
  • Retail scale of 219 Canadian locations and a ~12% domestic market share

Negative

  • Dilution risk from 123,558 RSUs and 25,000 options outstanding at $3.43 strike
  • Management transition with two director resignations may create short-term governance adjustments

News Market Reaction – HITI

-0.79%
1 alert
-0.79% Session close to close
$219.60M Market Cap
0.0x Rel. Volume

In the Mar 3 session, HITI declined 0.79%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement reshaped High Tide’s leadership bench, adding two directors and two advisors with ...
Analysis

This announcement reshaped High Tide’s leadership bench, adding two directors and two advisors with strengths in securities law, technology, real estate, and AI, alongside 123,558 RSUs and 25,000 options at $3.43. It continues a trajectory highlighted by record 2025 results and ongoing store expansion. Investors may focus on how these appointments support governance for a dual-listed structure and help integrate AI and real estate strategy into High Tide’s 219-store retail and international medical platforms.

Key Figures

RSUs granted: 123,558 RSUs Options granted: 25,000 options Option exercise price: $3.43 per share +5 more
8 metrics
RSUs granted 123,558 RSUs Equity awards to directors, advisors, and consultants
Options granted 25,000 options Equity awards to directors, advisors, and consultants
Option exercise price $3.43 per share Options vesting over three years
Hold period Four months and one day Statutory hold on shares underlying RSUs and options
Canna Cabana locations 219 stores Largest cannabis retail chain in Canada
Canadian market share 12% Share across five Canadian provinces
Cabana Club members 2.4M members Canadian loyalty program size
Elite members 139,000 members Cabana Club ELITE tier size

Historical Context

5 past events · Latest: Feb 09 (Positive)
Pattern 5 events
Date Event Sentiment 24h Move Catalyst
Feb 09 Store opening & equity grants Positive +3.0% New Scarborough store opening and sizable option and RSU grants.
Jan 29 Earnings results Positive -8.2% Record Q4 and fiscal 2025 revenue and adjusted EBITDA metrics.
Jan 09 Earnings date announcement Neutral -0.8% Notification of timing for Q4 and full-year 2025 results release.
Dec 23 Year recap & milestones Positive +0.0% Recap of 2025 growth, store expansion, and membership metrics.
Dec 22 Conference participation Positive +1.1% ICR Conference participation and investor meetings announcement.

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

Pattern Detected

Recent news often drew modestly positive or flat reactions, while strong financial results on Jan 29, 2026 coincided with a notable selloff, indicating occasional negative reactions to good earnings.

Recent Company History

Over the last few months, High Tide has highlighted record fiscal 2025 revenue and adjusted EBITDA on Jan 29, 2026, expanded its Canna Cabana network to 219 Canadian stores, and continued entering new markets like Germany via Remexian Pharma. Operational updates such as store openings and milestone recaps around late 2025 generally saw mild or neutral price reactions. Against this backdrop, the latest board and advisory appointments emphasize governance, real estate, and AI capabilities rather than immediate financial changes.

Key Terms

restricted stock units, options, omnibus plan, mi 61-101, +4 more
8 terms
restricted stock units financial
"The Company also granted an aggregate of 123,558 restricted stock units of the Company"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
options financial
"and 25,000 options of the Company (the "Options") to directors, advisory board members"
Options are contracts that give investors the right to buy or sell an asset at a specific price within a certain time frame. They function like a reservation or a ticket that allows for potential profit or protection against price changes, making them useful tools for managing investment risks or speculating on market movements.
View in glossary
omnibus plan financial
"All RSUs and Options were granted in accordance with the Company's Omnibus Plan"
An omnibus plan is a single, broad employee compensation program that groups together different types of pay awards — such as stock options, restricted shares, cash bonuses and other incentives — under one set of rules and administration. Think of it as a single toolbox that lets a company give and track many kinds of employee pay from one place; investors care because it affects potential share dilution, how executive incentives are structured, and the size and timing of compensation expense.
mi 61-101 regulatory
"including MI 61-101 compliance, take-over bid regulations, and cross-border securities issues."
MI 61-101 is a Canadian securities rule that sets procedures for major deals involving insiders or controlling shareholders, requiring independent valuations, extra disclosure and often shareholder approval to protect minority holders. It matters to investors because it acts like an impartial referee and independent appraiser, reducing the chance that people in control can push through unfair sales, mergers or asset transfers that would harm ordinary shareholders.
certified commercial investment member financial
"He holds the Certified Commercial Investment Member (CCIM) designation, one of the most"
A certified commercial investment member (often abbreviated CCIM) is a professional designation awarded to people who have completed advanced coursework and practical experience in commercial real estate investing, valuation, market analysis and deal-making. For investors it serves as a quick signal of specialized knowledge and proven competency—like hiring a certified mechanic for a complex repair—which can mean clearer pricing, better risk assessment and more reliable execution of property transactions.
artificial intelligence technical
"advisors with focus on Real Estate and Artificial Intelligence"
Artificial intelligence is the ability of computers and machines to perform tasks that typically require human thinking, such as understanding language, recognizing patterns, or making decisions. For investors, it matters because AI can enhance efficiency, uncover new insights, and enable smarter strategies, potentially impacting the value and performance of companies that develop or utilize this technology.
machine learning technical
"Since 2022, Mr. Ernest has concentrated his work on artificial intelligence, machine learning, and adaptive systems"
Machine learning is a set of computer programs that learn patterns from large amounts of data and improve their predictions or decisions over time, like a recipe that gets better each time it’s adjusted based on taste tests. For investors it matters because these systems can speed up analysis, spot trends or risks humans might miss, automate routine work, and potentially create competitive advantages or cost savings that affect a company’s performance.
View in glossary
adaptive systems technical
"artificial intelligence, machine learning, and adaptive systems, with an emphasis on integrating AI"
Adaptive systems are technologies, processes, or organizational setups that change their behavior in response to new information or shifting conditions, like a thermostat that alters temperature as the room warms. For investors, they matter because such systems can improve resilience, efficiency, and competitive edge by learning from data and adjusting automatically, which can affect costs, revenue stability, regulatory compliance, and long-term growth prospects.

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

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CALGARY, AB, March 3, 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 changes to its Board of Directors (the "Board") as part of a planned board renewal process.

Board Transitions

The Company announces that Nitin Kaushal and Andrea Elliott have resigned from the Board, effective March 2, 2026. On behalf of the Board and management, the Company thanks Mr. Kaushal, on the board since 2018, and Ms. Elliott, on the board since 2021, for their dedicated service and significant contributions to High Tide during a period of substantial growth and strategic development, which entailed each of them investing material time and effort to support the Company. In addition to their exemplary service as members of the Board, Mr. Kaushal served as Chair of the Audit Committee and Ms. Elliott served as Chair of the Compensation Committee.  

"I want to personally thank both Nitin and Andrea for their years of service on the Board," said Raj Grover, Founder and Chief Executive Officer of High Tide. "They each played an important role during a critical chapter of High Tide's development, and we wish them well in their future endeavours."

Appointment of New Directors

The Board is pleased to announce the appointment of Kathleen Skerrett and Menashe Kestenbaum as directors of the Company, effective March 2, 2026.

"High Tide has built a strong foundation over the past several years, and every member of this Board, past and present, has contributed to getting us here. As we enter our next chapter, our needs as a company are evolving. We are now a dual-listed, international platform operating at significant scale, and our board and advisory composition must evolve to match the complexity and ambition of what lies ahead. Kathleen brings deep securities and governance expertise directly relevant to our listing structure and growth trajectory, Menashe adds proven experience scaling public technology platforms and navigating multi-exchange governance, David strengthens our strategic real estate positioning, and Filip enhances our long-term digital and AI capabilities. These appointments are a deliberate step forward to ensure High Tide has the right leadership bench for the global opportunity in front of us," added Mr. Grover.

About Kathleen Skerrett

Kathleen Skerrett is a Partner at Gardiner Robers LLP, where she practices in the areas of securities law, corporate governance, and capital markets transactions. Ms. Skerrett has extensive experience advising public companies on M&A transactions, regulatory compliance, and continuous disclosure obligations. She has particular expertise advising emerging and mid-cap issuers listed on the TSX Venture Exchange, the CSE, and NASDAQ on complex transactional and governance matters, including MI 61-101 compliance, take-over bid regulations, and cross-border securities issues. Ms. Skerrett has been recognized by Best Lawyers Canada and Chambers for her securities law expertise. She holds a law degree and B.Comm from University of Toronto and is a member of the Law Society of Ontario.

About Menashe Kestenbaum

Menashe Kestenbaum is a seasoned technology entrepreneur, industry disruptor, public company executive, and venture capital investor. Mr. Kestenbaum started off in the gaming industry, leading Enthusiast Gaming from its beginnings as a basement startup in 2015, through an IPO, to an all-time high of a $1.4B market cap in 2021. He is also a General Partner of LeverageVC, a venture capital fund focused on early-stage technology investments, including having made investments in AI and e-commerce. Menashe has now turned his focus onto disrupting the mental health industry with Glimmer, where he acts as CEO. Mr. Kestenbaum brings deep expertise in scaling technology companies, navigating public company governance across multiple exchanges, and evaluating emerging technology and AI opportunities. His experience managing dual-listed companies on the TSX and NASDAQ is directly relevant to High Tide's listing structure.

Appointment of David Wallach and Filip Ernest

The Company is also pleased to announce the appointment of David Wallach, CCIM, and Filip Ernest as a member of the Company's Advisory Board, to provide strategic guidance to management on matters including real estate, business development, artificial intelligence, e-commerce technology and community and stakeholder engagement.

About David Wallach

David Wallach is the Owner and President of Barclay Street Real Estate Ltd., a leading Calgary-based commercial real estate brokerage and property management firm that he has built over more than two decades into one of Western Canada's premier boutique commercial real estate platforms. Mr. Wallach has supervised in excess of $500 million in real estate transactions and has extensive experience in investment sales, property management, and business operations. He holds the Certified Commercial Investment Member (CCIM) designation, one of the most recognized credentials in commercial real estate. Mr. Wallach is also the President and Founder of the Triumph Real Estate Investment Fund, serves as Treasurer on the Board of Directors of TCN Worldwide Real Estate Services, and is a member of the Dean's Advisory Board of Mount Royal University's Faculty of Business, Communication Studies and Aviation. Mr. Wallach is an active member of the Calgary business community, including as co-host of CORUS Entertainment's Calgary Next radio show profiling Calgary-based businesses and entrepreneurs.

About Filip Ernest

Filip Ernest is an entrepreneur and digital transformation strategist with more than two decades of experience building and scaling technology-driven businesses. His career began at the start of the commercial internet era in the Netherlands, where he was involved in one of the country's early internet agencies, helping companies establish their first digital infrastructure and online commerce capabilities.

Over the past 25 years, Mr. Ernest has focused on developing scalable e-commerce platforms, data-driven operating systems, and technology-enabled consumer ecosystems across international markets. He is recognized for combining long-term strategic thinking with hands-on technical execution, particularly in areas where technology reshapes traditional retail and community models.

Since 2022, Mr. Ernest has concentrated his work on artificial intelligence, machine learning, and adaptive systems, with an emphasis on integrating AI into operational workflows, customer engagement models, and decision-making frameworks. His work centers on positioning AI not as a standalone tool, but as a foundational layer within modern retail and digital enterprises.

Grant of Options and RSUs

The Company also granted an aggregate of 123,558 restricted stock units of the Company (the "RSUs") and 25,000 options of the Company (the "Options") to directors, advisory board members, and consultants of the Company. Each RSU entitles the holder to acquire one common share of the Company upon vesting. Each Option entitles the holder to acquire one common share of the Company upon vesting, at a price of $3.43 per share for a period of three years.

All RSUs and Options were granted in accordance with the Company's Omnibus Plan, which became effective on June 2, 2022. The common shares underlying the RSUs and Options set out above are subject to a statutory four month and one day hold period, and such further restrictions as may apply under foreign securities laws.

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 219 domestic locations. 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.

Medical Cannabis Distribution: Remexian Pharma GmbH is a leading German pharmaceutical company 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
Carter Brownlee
Communications and Public Affairs Advisor
High Tide Inc.
cbrownlee@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 press release may contain "forward-looking information" and "forward-looking statements within the meaning of applicable securities legislation. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements herein include, but are not limited to, statements regarding: the future success and growth of the Company and its ability to capitalize on global opportunities. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including but not limited to the 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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/high-tide-announces-appointment-of-two-new-directors-and-appointment-of-two-advisors-with-focus-on-real-estate-and-artificial-intelligence-302701823.html

SOURCE High Tide Inc.

FAQ

Who were appointed to High Tide's board and advisory board on March 2, 2026 (HITI)?

High Tide appointed Kathleen Skerrett and Menashe Kestenbaum as directors on March 2, 2026. According to the company, David Wallach and Filip Ernest joined the advisory board to advise on real estate and AI.

What equity awards did High Tide (HITI) grant with the March 3, 2026 announcement?

The company granted 123,558 restricted stock units and 25,000 options at a $3.43 exercise price. According to the company, grants follow the Omnibus Plan and carry a statutory four-month-and-one-day hold period.

How does High Tide describe its Canadian retail footprint in the March 3, 2026 release (HITI)?

High Tide reports 219 Canadian retail locations and approximately a 12% domestic market share. According to the company, Canna Cabana is its flagship retail brand and is a core component of its retail strategy.

Why did High Tide emphasize Menashe Kestenbaum's appointment for HITI's dual-listing structure?

Kestenbaum brings experience scaling public tech platforms and managing dual-listed governance on TSX and NASDAQ. According to the company, his background is directly relevant to High Tide's multi-exchange listing complexity.

What investor considerations arise from the board and advisor changes at High Tide (HITI)?

Investor considerations include strengthened governance and AI/real estate expertise alongside potential short-term governance transition risk. According to the company, appointments aim to align board skills with its international growth strategy.