High Tide Acquires Smoker’s Corner Franchise for Conversion into Canna Cabana in Edmonton

CALGARY, Sept. 4, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HITIF) (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 the closing of the acquisition of a Smoker’s Corner franchise located at 10275 Jasper Avenue in Edmonton, Alberta (the “Jasper Avenue Store”). The total consideration paid to acquire the franchise was $475,000, of which $270,000 was paid in cash and the remainder was paid through the issuance of 559,742 common shares of High Tide.

In accordance with the applicable municipal development permit in hand, the Company has begun the process of converting the Jasper Avenue Store to a Canna Cabana retail location for the sale of recreational cannabis for adult use, subject to inspection and licensing by Alberta Gaming, Liquor and Cannabis. The Jasper Avenue Store is situated in the heart of Edmonton and its population of over 980,000 people. As Edmonton’s main thoroughfare, Jasper Avenue passes through the downtown core, features some of the city’s tallest office towers and oldest historic sites, is a major public transit route and offers countless retail, dining and entertainment options for local residents and tourists alike.