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High Tide (TSXV: HITI) to acquire four Northern Helm cannabis stores in Ontario

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6-K

Rhea-AI Filing Summary

High Tide Inc. is expanding its Canadian retail footprint by agreeing to acquire four Northern Helm cannabis stores in Ontario for $7.74 million. The locations in Bowmanville, Kingston, Courtice, and Oshawa will bring its network to 228 Canna Cabana stores across Canada and 103 in Ontario.

The arm's length deal involves assumed debt with a 2% interest rate plus a mix of cash and High Tide common shares, issued at a price based on a 10-day volume-weighted average with a floor tied to the TSX Venture Exchange’s Discounted Market Price. The purchase price equates to 4.5x the annualized Adjusted EBITDA of the acquired stores for the three months ended March 31, 2026.

Closing in the coming weeks is subject to approvals from the TSX Venture Exchange and the Alcohol and Gaming Commission of Ontario, as well as customary conditions. Management highlights this acquisition as part of a strategy to add cash-flowing assets, build a network of more than 350 stores over time, and complement growth in its German medical cannabis distribution business.

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Insights

Small tuck-in Ontario deal supports High Tide’s store-led growth strategy.

High Tide plans to buy four Northern Helm stores in Ontario for $7.74 million, taking its Canadian Canna Cabana network to 228 locations, including 103 in Ontario. The purchase multiple of 4.5x annualized Adjusted EBITDA suggests the target assets are already producing cash flow.

The consideration structure combines assumed debt at 2%, cash, and equity priced off a 10-day volume-weighted average with a TSXV floor, which can help manage balance-sheet impact. Closing depends on approvals from the TSX Venture Exchange and the Alcohol and Gaming Commission of Ontario, plus standard conditions.

Management frames this deal within a longer-term goal of exceeding 350 stores and emphasizes a second growth engine in German medical cannabis via Remexian Pharma. Actual financial impact will hinge on regulatory approvals, smooth integration of the four stores, and how performance tracks relative to the March 31, 2026 EBITDA baseline.

Purchase price $7.74 million Total consideration for four Northern Helm stores
Store count Canada 228 stores Canna Cabana locations across Canada after acquisition
Store count Ontario 103 stores Canna Cabana locations in Ontario after acquisition
Acquisition multiple 4.5x Adjusted EBITDA Based on annualized EBITDA for three months ended March 31, 2026
Assumed debt interest rate 2% Interest rate on approximately $3 in assumed debt
Canadian retail market share 12% High Tide’s share of Canadian cannabis retail market
German medical cannabis share 14% Remexian Pharma share of German medical cannabis market
Import countries 19 countries Number of countries Remexian is licensed to import from
Adjusted EBITDA financial
"The purchase price represents 4.5x the annualized Adjusted EBITDA of the Stores"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Discounted Market Price financial
"subject to a floor price equal to the Discounted Market Price as defined by the TSXV"
A discounted market price is the current trading price of a security or asset that is lower than a commonly used reference value—such as its perceived fair value, net asset value, or recent trading levels. For investors it signals a potential bargain or a warning: like finding an item on sale, it can indicate opportunity for profit if the market corrects, but it can also reflect underlying problems or negative sentiment that may persist.
arm's length transaction financial
"The Transaction, which is an arm's length transaction, is subject to approvals"
An arm's length transaction is a deal made between independent parties who each act in their own interest, ensuring the price and terms reflect fair market value rather than favoritism. Investors care because these transactions reduce conflicts of interest and give a clearer picture of a company’s worth and performance — like buying a car from a stranger rather than from a close friend or family member, which is more likely to show true market price.
TSX Venture Exchange regulatory
"subject to, among other things, receipt of the required approvals from the TSX Venture Exchange"
A junior stock exchange in Canada where smaller, early-stage companies list shares to raise capital and gain public visibility. Think of it as a farmers’ market for young businesses: it offers investors a chance to buy into fast-growing but higher-risk ventures, with looser listing rules and typically lower liquidity than major exchanges. It matters because performance and financing on this exchange can signal growth prospects or risk for investors.
Alcohol and Gaming Commission of Ontario regulatory
"required approvals from the TSX Venture Exchange and the Alcohol and Gaming Commission of Ontario"
forward-looking statements regulatory
"This news release contains forward-looking information and forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 001-40258

HIGH TIDE INC.

(Registrant)

11127 – 15 Street N.E., Unit 112

Calgary, Alberta

Canada T3K 2M4

(Address of Principal Executive Offices)

 

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☐            Form 40-F  ☒

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

 

 

 

 

 

 

 

 

 

HIGH TIDE INC.

 

 

 

 

(Registrant)

 

 

 

 

Date: June 15, 2026

 

 

 

By

 

/s/ Raj Grover

 

 

 

 

 

 

Raj Grover

 

 

 

 

 

 

President and Chief Executive Officer

 

 

 

 

 

 

 

 

 

EXHIBIT INDEX

     

Exhibit

    Description of Exhibit
   
99.1   News Release dated June 15, 2026

  Exhibit 99.1

 

  

 

High Tide to Acquire Northern Helm, Adding Four Established Retail Cannabis Stores in Ontario

CALGARY, AB, June 15, 2026 /CNW/ - 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 it is taking yet another step to expand its bricks-and-mortar retail cannabis operations, by entering into a definitive agreement (the "Acquisition Agreement") pursuant to which High Tide will acquire 100% of the equity interest of J. Supply Holdings Inc., operating as Northern Helm ("Northern Helm"), resulting in High Tide's acquisition of four of the six retail cannabis stores currently operated by Northern Helm in Ontario (the "Stores") for $7.74 Million (the "Transaction"). The Stores are located at 2377 Highway 2 in Bowmanville, 225 Gore Road in Kingston, 1414 King St. E in Courtice, and 199 Wentworth St W in Oshawa. These acquisitions will bring High Tide's total store count to 228 Canna Cabana locations across Canada and 103 in the province of Ontario.


High Tide Inc., June 15, 2026

"This acquisition highlights exactly how we intend to continue creating shareholder value: acquiring strong cash-flowing assets at reasonable multiples, integrating them into our proven operating platform, and compounding earnings over time. Surpassing 100 stores in Ontario will be a significant achievement, but we view it as another step toward our long-term objective of building a 350-plus store network that remains unmatched in scale, efficiency, and customer loyalty," said Raj Grover, Founder and Chief Executive Officer of High Tide.

"At the same time, the success of our medical cannabis division demonstrates that High Tide is evolving into much more than a retail company. As our retail business continues to outperform and gain market share, our medical cannabis platform is rapidly emerging as a second engine of growth. With strong momentum across both segments, multiple avenues for expansion, and a proven ability to execute, I believe we are exceptionally well-positioned to continue widening our competitive moat, compounding shareholder value, and delivering sustainable growth for years to come. I look forward to sharing our progress with the release of financial and operational results for the second fiscal quarter at the close of markets today," added Mr. Grover.

Transaction Details

The Transaction, which is an arm's length transaction, is subject to, among other things, receipt of the required approvals from the TSX Venture Exchange ("TSXV") and the Alcohol and Gaming Commission of Ontario ("AGCO"), and the satisfaction of other customary conditions of closing, and is expected to close in the coming weeks. The consideration (the "Consideration") for the 100% of equity interests acquired will be approximately $3.2M in assumed debt with a 2% interest rate, with 40% of the remaining amount paid in cash, (approximately $1.83M), and the remaining 60% (approximately $2.75M) paid in common shares of High Tide ("High Tide Shares") on closing (the "Closing") on the basis of a deemed price per High Tide Share equal to the 10-day volume weighted average price of the High Tide Shares on the TSXV ending on the trading day that is three business days prior to the Closing date, subject to a floor price equal to the Discounted Market Price (as defined by the TSXV) as of the day prior to this news release. The High Tide Shares will be subject to a statutory and contractual hold period of four months and one day from the date of Closing. The purchase price represents 4.5x the annualized Adjusted EBITDA of the Stores for the three months ended March 31, 2026.

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 expected final purchase price of the Transaction; whether all approvals will be received and conditions precedent will be satisfied; whether the Transaction will close on the timeline indicated herein.

Forward-looking statements are based on management's current expectations and assumptions as of the date of this news release, including assumptions regarding: the receipt of all required consents, regulatory approvals, authorizations, and satisfaction of customary conditions for the closing of the Transaction; the final purchase price for the Transaction after adjustments; he accuracy and continued applicability of third-party and internal market, demographic and competitive data relied upon by management; the ability of the Company to surpass its goal of 350 stores; the ability of the Company to continue delivering growth and shareholder value; and the Company's ability to execute its retail expansion plans and operate the new stores as anticipated.

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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/high-tide-to-acquire-northern-helm-adding-four-established-retail-cannabis-stores-in-ontario-302799861.html

SOURCE High Tide Inc.

 

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2026/15/c7422.html

%CIK: 0001847409

CO: High Tide Inc.

CNW 06:00e 15-JUN-26

Source: View Original Filing on SEC EDGAR

FAQ

What acquisition did High Tide (HITI) announce in this 6-K filing?

High Tide announced an agreement to acquire four Northern Helm retail cannabis stores in Ontario for a total purchase price of $7.74 million. The stores are in Bowmanville, Kingston, Courtice, and Oshawa and will be integrated into its Canna Cabana retail network.

How will the Northern Helm acquisition affect High Tide’s store count?

After acquiring four Northern Helm stores, High Tide’s Canna Cabana chain will reach 228 locations across Canada, including 103 in Ontario. This supports its broader goal of building a more than 350-store retail network over time, subject to execution and market conditions.

What is the valuation multiple for High Tide’s Northern Helm acquisition?

The $7.74 million purchase price represents 4.5x the annualized Adjusted EBITDA of the acquired stores, based on the three months ended March 31, 2026. This metric indicates the company is paying a set multiple of current cash-flow performance for the assets.

How is the consideration for the High Tide–Northern Helm deal structured?

Consideration includes approximately $3 in assumed debt at a 2% interest rate, with the remaining amount split between cash and High Tide common shares. Shares will be issued at a price based on a 10-day volume-weighted average, subject to a TSXV floor price.

What approvals are required before High Tide’s Northern Helm acquisition can close?

Closing the transaction requires approvals from the TSX Venture Exchange and the Alcohol and Gaming Commission of Ontario, along with satisfaction of other customary closing conditions. The company indicates it expects the acquisition to close in the coming weeks, subject to these requirements.

How does this acquisition fit into High Tide’s broader growth strategy?

Management describes the deal as part of a strategy to buy strong, cash-flowing assets at reasonable multiples and integrate them into its platform. They aim to build a 350-plus store network while also growing a medical cannabis business in Germany through Remexian Pharma.

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