CALGARY, AB, Oct. 8, 2021 /CNW/ - High Tide Inc. ("High Tide"
or the "Company") (TSXV: HITI) (Nasdaq: HITI) (FSE: 2LYA), a
leading retail-focused cannabis company with bricks and mortar as
well as global e-commerce assets, with 30 retail cannabis stores
currently operating in Ontario,
welcomes the Ontario Government's proposed Supporting People and
Businesses Act. The Act, if passed, would permanently enable retail
cannabis stores to offer popular delivery and curbside pick-up
services. This follows earlier moves by the Ontario government to permanently allow bars
and restaurants to offer home delivery options for beverage alcohol
purchases.
"Along with many other businesses, legal cannabis retailers have
seen their bottom lines impacted by the pandemic. As lockdowns were
put in place, the Government of Ontario listened to legal cannabis businesses
and allowed us to offer curbside pickup and delivery services to
our customers on a temporary basis. This decision helped many
smaller cannabis retailers stay afloat and limit layoffs, while
providing the sector with an important tool to combat illicit
market operators, many of whom began ramping up their unregulated
delivery services as the pandemic hit," said Raj Grover, President
and Chief Executive Officer of High Tide. "I am pleased that the
Ontario government has now decided
to make the delivery allowance permanent. Through the pandemic,
licensed cannabis retailers have proven that we can operate home
delivery in a safe and secure manner that allows adults to have
timely access to the regulated and quality-controlled products that
they want, while ensuring that unlike illicit market operators,
access to youth is strictly forbidden," added Mr. Grover.
About High Tide Inc.
High Tide is a leading retail-focused cannabis company with
bricks and mortar as well as global e-commerce assets. The Company
is the largest Canadian retailer of recreational cannabis as
measured by revenue, with 101 current locations spanning
Ontario, Alberta, Manitoba and Saskatchewan, and was featured in the third
annual Report on Business Magazine's ranking of Canada's Top Growing Companies in 2021. High
Tide's retail segment features the Canna Cabana, Meta Cannabis Co.,
Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with
additional locations under development across the country. High
Tide has been serving consumers for over a decade through its
established e-commerce platforms including Grasscity.com,
Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more
recently in the hemp-derived CBD space through CBDcity.com and
FABCBD.com as well as its wholesale distribution division under
Valiant Distribution, including the licensed entertainment product
manufacturer Famous Brandz. High Tide's strategy as a parent
company is to extend and strengthen its integrated value chain,
while providing a complete customer experience and maximizing
shareholder value. Key industry investors in High Tide include
Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and Aurora Cannabis Inc.
(TSX: ACB) (Nasdaq: ACB).
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.
For more information about High Tide Inc., please visit
www.hightideinc.com, its profile page on SEDAR at www.sedar.com,
and its profile page on EDGAR at www.sec.gov.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking
information or forward-looking statements. Such information and
statements, referred to herein as "forward-looking statements" are
made as of the date of this news release or as of the date of the
effective date of information described in this news release, as
applicable. Forward-looking statements relate to future events or
future performance and reflect current estimates, predictions,
expectations or beliefs regarding future events. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (generally, forward-looking
statements can be identified by use of words such as "outlook",
"expects", "intend", "forecasts", "anticipates", "plans",
"projects", "estimates", "envisages, "assumes", "needs",
"strategy", "goals", "objectives", or variations thereof, or
stating that certain actions, events or results "may", "can",
"could", "would", "might", or "will" be taken, occur or be
achieved, or the negative of any of these terms or similar
expressions, and other similar terminology) are not statements of
historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that
may prove to be incorrect, including but not limited to the ability
of High Tide to execute on its business plan and that High Tide
will receive one or multiple licenses from Alberta Gaming, Liquor
& Cannabis, British Columbia's
Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority
of Manitoba, Alcohol and Gaming
Commission of Ontario or the
Saskatchewan Liquor and Gaming Authority permitting it to carry on
its Canna Cabana Inc. and KushBar Inc. businesses. High Tide
considers these assumptions to be reasonable in the circumstances.
However, there can be no assurance that any one or more of the
government, industry, market, operational or financial targets as
set out herein will be achieved. Inherent in the forward-looking
statements are known and unknown risks, uncertainties and other
factors that could cause actual results, performance or
achievements, or industry results, to differ materially from any
results, performance or achievements expressed or implied by such
forward-looking statements.
The forward–looking statements contained herein are current
as of the date of this news release. Except as required by law,
High Tide does not have any obligation to advise any person if it
becomes aware of any inaccuracy in or omission from any
forward-looking statement, nor does it intend, or assume any
obligation, to update or revise these forward-looking statements to
reflect new events or circumstances. Any and all forward-looking
statements included in this news release are expressly qualified by
this cautionary statement, and except as otherwise indicated, are
made as of the date of this news release.
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SOURCE High Tide Inc.