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. reports developments tied to its cannabis retail, e-commerce and cannabinoid products businesses. The company operates Canna Cabana stores across several Canadian provinces, uses a discount club retail model, and owns online platforms for consumption accessories and hemp-derived CBD products. News commonly covers store openings, financial results, customer-loyalty activity, and the operating performance of its bricks-and-mortar and e-commerce segments.
High Tide updates also address subsidiaries and international activities, including NuLeaf Naturals in U.S. hemp-derived CBD products and Remexian in Germany. Recurring corporate items include financing arrangements, insider ownership, conference participation, governance matters, and company statements related to the trading of its common shares on Nasdaq, TSXV and other markets.
High Tide has successfully acquired DHC Supply LLC, known as Daily High Club, enhancing its cannabis retail offerings. The deal includes 839,820 High Tide common shares valued at US$6.75 million and US$3.25 million in cash. Daily High Club is a leading retailer with over one million accessories sold and strong social media presence. This acquisition positions High Tide to potentially capitalize on U.S. online cannabis sales if federal legalization occurs. Harrison Baum from Daily High Club joins High Tide as Director of Digital Marketing.
High Tide has announced the acquisition of DankStop for US$3.85 million. This strategic move strengthens High Tide's e-commerce position, adding DankStop's over 200,000 email subscribers and 335,000 Instagram followers. The acquisition is immediately accretive, with DankStop generating over US$3 million in revenue in the last year. Following the deal, High Tide's U.S. revenue run rate will reach approximately CAD$55 million. The transaction is expected to close soon and enhances operational efficiency as DankStop is an existing supplier.
High Tide Inc. (HITI) has opened its 20th cannabis retail store in Ontario, located at 111 Rideau Street, Ottawa. This move aligns with the company's strategy to foster organic growth in profitable areas. High Tide operates 87 retail locations across multiple provinces and emphasizes its strong fundamentals and e-commerce growth. CEO Raj Grover highlighted plans to accelerate brick-and-mortar expansion and seek e-commerce acquisitions in the U.S. The company is recognized as Canada's most profitable cannabis retailer by Adjusted EBITDA.
High Tide has completed the sale of its KushBar cannabis retail stores to Halo Collective for $5.7 million. This deal includes a deposit of $3.5 million in Halo shares, a $1.8 million convertible promissory note, and a potential $400,000 earnout note based on revenue performance. High Tide will continue to oversee Halo’s retail operations and receive ongoing royalties for advisory services. This strategic move allows High Tide to focus on its core business while ensuring financial returns through new revenue streams.
High Tide has successfully closed the sale of its three KushBar retail cannabis stores to Halo for $5.7 million. The payment consists of a $3.5 million deposit in Halo shares, alongside two convertible promissory notes totaling $2.2 million. Halo will continue to engage High Tide for operational oversight and pay ongoing royalties for advisory services. This deal complies with necessary AGLC regulatory approvals. High Tide is recognized as Canada’s most profitable recreational cannabis retailer, currently operating 86 locations across several provinces.
High Tide welcomes the proposed Cannabis Administration and Opportunity Act (CAOA), which aims to federally deschedule cannabis and expunge prior convictions. If passed, this could enhance opportunities for cannabis retail, particularly for High Tide, which is the most profitable Canadian cannabis retailer by Adjusted EBITDA. The Company plans to expand into the U.S. market through e-commerce and physical stores, contingent on CAOA's passage. Currently, High Tide operates 89 locations across Canada and has a robust online presence with nearly 100 million site visits in 2020.
High Tide Inc. (HITI) announced its acquisition of 102105699 Saskatchewan Ltd. for C$2.9 million. This deal includes a portfolio of six retail cannabis locations in Regina, with one operational and five under construction, expected to open by the end of 2021. This acquisition will expand High Tide's footprint in Saskatchewan to ten stores, enhancing its market position. The transaction is subject to approval from the TSX Venture Exchange and the Saskatchewan Liquor and Gaming Authority, and is anticipated to close within 30 days.
High Tide (TSXV: HITI, Nasdaq: HITI) has announced the completion of the acquisition of DHC Supply LLC, operating as Daily High Club, for a total consideration of US$10 million. This includes US$6.75 million valued in High Tide Shares and US$3.25 million in cash. The acquisition, part of High Tide's strategy to expand its online retail capabilities, positions the company to capitalize on potential future U.S. cannabis sales. Harrison Baum joins High Tide as Director of Digital Marketing to enhance global social media efforts.
High Tide has successfully acquired Daily High Club, enhancing its e-commerce presence in the cannabis accessory market. This acquisition adds a significant platform to High Tide's portfolio, featuring 91 million site visits and access to over 15,000 subscription box members. Daily High Club reported net revenue of US$9.4 million and EBITDA of US$1.2 million for the year ending April 2021. The total consideration for the acquisition includes 839,820 High Tide common shares valued at US$6.75 million and US$3.25 million in cash, expected to boost High Tide's revenue run rate in the U.S. to over CAD$50 million.
High Tide Inc. (TSXV: HITI, NASDAQ: HITI) announced the opening of two new Canna Cabana stores in Thunder Bay, Ontario, and Lethbridge, Alberta, increasing its total retail locations to 89 across Canada. Located in high-traffic areas, these stores align with the company's strategy for organic growth in profitable neighborhoods. High Tide aims to expand its operations as pandemic restrictions ease, with additional store openings planned and an emphasis on enhancing its e-commerce presence in the United States.