CALGARY, April 3, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HTDEF) (Frankfurt:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that its common shares have been upgraded by the OTC Markets Group for trading on the OTCQB Market (“OTCQB”) under the stock symbol “HTDEF”. The Company’s common shares continue to be listed on the Canadian Securities Exchange under the ticker symbol “HITI” and on the Frankfurt Stock Exchange under the stock symbol “2LY”.
The OTCQB market is considered an Established Public Market by the SEC for the purpose of determining the public market price when registering securities for resale with the SEC in equity line financings.
The upgrade of High Tide’s shares for trading on the OTCQB enables American investors to participate in our rapid growth.
Raj Grover, President and Chief Executive Officer of High Tide.
Interest from American investors has been growing due to a significant amount of our wholesale segment’s business being conducted with customers in the United States. Therefore, this OTCQB listing enables us to further diversify our retail and institutional investor base around the world.
Companies on the OTCQB verify via an annual OTCQB Certification that their company information is current, including information about its reporting status, profile, information about management and the board, major shareholders, law firms, transfer agents and more.
Additionally, Matthew Dexter, Chief Financial Officer, has advised High Tide that he will resign from his position effective April 22, 2018. The Company and the Board of Directors would like to thank Mr. Dexter for his contributions over the past year and wish him well in his future endeavours. High Tide has commenced a search for Mr. Dexter’s replacement through an executive search firm and Mr. Dexter will assist the Company with the transition prior to his departure.
About High Tide Inc.
High Tide is an Alberta-based, downstream cannabis corporation focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. 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 Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) (Frankfurt: 21P; WKN: A1C4WM) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).
Representing the core of High Tide’s business, RGR Canada Inc. is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Famous Brandz Inc. is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures. Famous Brandz products are sold to wholesalers and retailers around the world. Founded in 2009 and approved by the Canadian Franchise Association, Smoker’s Corner Ltd. is among Canada’s largest counter-culture chains with 12 locations. Kush West Distribution is in the process of becoming a cannabis wholesaler in the province of Saskatchewan. Based in Amsterdam since 2000, Grasscity.com is the world’s preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc., with 11 current locations, is in the process of becoming a sizeable retail brand with a sophisticated yet playful customer experience, while KushBar Inc. is a retail concept that will also be focused on the valued Canadian cannabis consumer.