Welcome to our dedicated page for High Tide news (Ticker: HITI), a resource for investors and traders seeking the latest updates and insights on High Tide stock.
High Tide Inc. (HITI) generates frequent news as a cannabis-focused retail and distribution company with operations in Canada, Germany, and global e-commerce. News about High Tide often centers on the expansion of its Canna Cabana retail chain, developments in its medical cannabis distribution business in Germany, and updates related to its hemp-derived CBD brands and online platforms.
Investors and followers of HITI can expect regular announcements about new Canna Cabana store openings across Canadian provinces such as Alberta and Ontario, as well as updates on international locations like the Berlin Canna Cabana store. These releases typically describe store locations, local market characteristics, and how new sites fit into High Tide’s broader retail strategy and discount club model.
High Tide’s news flow also includes participation in investor conferences, recognition in business rankings, and commentary on regulatory developments affecting cannabis and CBD markets. The company has issued news about being named to Canada’s Top Growing Companies list and about its ranking on the Financial Times list of Americas’ Fastest Growing Companies. It also publishes releases related to corporate milestones, such as entering the German medical cannabis market through Remexian Pharma GmbH.
On Stock Titan’s HITI news page, readers can review these company-issued updates in one place, including store expansion announcements, international growth initiatives, and regulatory or policy commentary that High Tide chooses to highlight. This makes the page a useful reference for tracking how the company describes its strategy, geographic footprint, and operational progress over time.
High Tide announced the appointment of Greg Fleury as Chief Technology Officer, effective immediately. He brings over 20 years of experience in digital operations and e-commerce. Fleury aims to enhance High Tide's digital platforms within the cannabis sector. The company will release its second quarter 2022 financial results on June 14, 2022, followed by a webcast at 5:30 PM ET the same day. High Tide is the largest non-franchised Canadian cannabis retailer, boasting 120 locations across four provinces.
On April 27, 2022, High Tide announced the completion of its acquisition of three cannabis stores in Ontario for CAD$1.9 million, as part of a strategy to expand its retail operations. The stores, located in Stratford, Hanover, and Markdale, generated annualized revenues of CAD$6 million and adjusted EBITDA of CAD$0.6 million as of December 31, 2021. A fourth store in Woodstock is pending regulatory approval, with the total transaction representing a purchase price of 3.5x annualized adjusted EBITDA. The acquisition reinforces High Tide's position in the Canadian cannabis market.
High Tide Inc. (HITI) reported impressive retail gross revenues of approximately CAD$1,372,600 on April 20, 2022, marking a 76.21% increase from the previous Wednesday. The Company noted a 63.05% rise in sales at its Canadian stores and a remarkable 129.41% growth in e-commerce sales. Additionally, High Tide's Cabana Club loyalty program grew to approximately 478,000 members, a 95.1% increase since its launch. The company also awarded a prize package valued at approximately $42,000 to a contest winner in celebration of 4/20.
High Tide Inc. (HITI) has successfully acquired 100% equity of Boreal Cannabis Company for CAD$2.2 million, plus inventory valued at approximately CAD$175,000. This acquisition includes two retail cannabis stores in Northern Alberta, expected to enhance High Tide's market presence. Boreal generated annualized revenue of CAD$3.9 million and Adjusted EBITDA of CAD$0.6 million for Q1 2022. High Tide issued approximately 443,301 shares as part of the transaction, valued at CAD$2.4 million. The deal is subject to final approval from the TSX Venture Exchange.
High Tide Inc. (HITI) announced the opening of two new Canna Cabana retail stores in Alberta and Ontario to celebrate the 4/20 cannabis holiday. Located in Red Deer County and London, the stores will increase High Tide's total locations to 115 across Canada. The Red Deer store is positioned within a growing commercial district, while the London store is strategically located at a major intersection near educational institutions. Additionally, the company will hold a contest for Cabana Club members, awarding a prize package on April 20.
High Tide Inc. (Nasdaq: HITI) has signed a non-binding letter of intent with connectFirst Credit Union for CAD$30 million in credit facilities over a 5-year term. The funding will replace the existing credit facility and support ongoing growth, with CAD$15 million allocated for term debt and CAD$15 million for a mergers and acquisitions revolving master line. The new facilities feature low interest rates and financial covenants favorable to the company. High Tide aims to close the facilities by June 2022, contingent on customary pre-disbursement conditions being met.
High Tide Inc. (Nasdaq: HITI) announced its acquisition of Boreal Cannabis Company for CAD$2.2 Million, plus inventory costs. Boreal operates two retail cannabis stores in Alberta, generating annualized revenue of CAD$3.9 Million and an Adjusted EBITDA of CAD$0.6 Million as of January 31, 2022. The purchase reflects a 3.5x valuation of annualized Adjusted EBITDA. This acquisition will push High Tide's store count to over 120 and aims to enhance its market presence in northern Alberta, a key growth region.
High Tide Inc. (NASDAQ: HITI) announced that its UK subsidiary, Blessed CBD, has been added to the Food Standards Agency’s list of permitted CBD products. This marks a significant milestone towards full authorization expected in 2023, enhancing Blessed's reputation in the UK's regulated CBD market. With the UK being the second-largest consumer market for CBD, Blessed CBD is solidifying its market position following its recent expansion into Germany. According to the Association for the Cannabinoid Industry, UK CBD sales reached £690 million in 2021.
High Tide Inc. (HITI) announced that its UK subsidiary, Blessed CBD, is now included in the Food Standards Agency's public list of authorized CBD products, a significant milestone expected to lead to full authorization by 2023. This achievement enhances Blessed CBD's reputation as a compliant and leading brand in the UK’s burgeoning CBD market, which saw sales of £690 million in 2021. The announcement aligns with High Tide's strategy to diversify revenue streams and expands its footprint in Europe, particularly following its entry into the German market.
High Tide Inc. (NASDAQ: HITI) announced a definitive agreement to acquire 100% of Livonit Foods Inc., operating as Bud Heaven, for CAD$2.8 Million. Bud Heaven operates two retail cannabis stores in Ontario, generating annualized revenue of CAD$4.7 Million and EBITDA of CAD$0.8 Million. The acquisition is part of High Tide's strategy to expand its retail presence in Ontario's cottage country, which aligns with its discount club model. The transaction is expected to close pending regulatory approvals, and it represents an attractive 3.5x multiple on Bud Heaven's annualized Adjusted EBITDA.
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