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 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.
High Tide Inc. (TSXV: HITI), Canada's largest cannabis retailer, welcomes the Ontario AGCO's decision to amend regulations, effective June 30, allowing retail cannabis licensees to create agreements with Licensed Producers for white label products. This change aims to level the playing field for cannabis retailers and enhance product differentiation. Additionally, High Tide granted 5,000 stock options to employees and announced a transition in its CTO position. As of now, the company operates 113 cannabis stores across Canada, with plans to acquire four more in Ontario, raising its total to 117.
High Tide Inc. (NASDAQ: HITI) reported a remarkable 88% revenue growth to $72.2 million in Q1 2022, marking the second-highest quarterly revenue for a Canadian cannabis company. Gross profit surged 56% to $23.0 million, though the profit margin slipped to 32%. Adjusted EBITDA fell to $3.0 million, down 36% year-over-year, but was up 80% sequentially. The company also saw significant growth in its Cabana Club membership, increasing to over 381,000 members. Retail expansion continues with 113 locations now operational, and plans for further market penetration in Ontario and British Columbia.
High Tide Inc. (HITI) announced the entry of its UK subsidiary, Blessed CBD, into the German market, launching online sales of various CBD products via www.BlessedCBD.de. Germany, projected to capture half of the EU cannabis market by 2024, positions itself as the largest CBD market in Europe. The global CBD demand is expected to hit US$56 billion by 2028. This strategic move aims to diversify High Tide's revenue streams while leveraging their existing infrastructure in Europe.
High Tide Inc. (HITI) announced the launch of its Delivery on Demand program in Alberta, allowing customers to receive orders within two hours. This initiative capitalizes on new regulations enabling private cannabis retailers to offer e-commerce services. Additionally, High Tide opened its 113th retail cannabis store in Waterloo, Ontario, marking its third in a rapidly growing region. The company aims to enhance competition against illicit markets and strengthen its market position in Alberta, further solidifying its status as the largest cannabis retailer in the province.