CALGARY, July 29, 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 that its wholly-owned subsidiary, Famous Brandz Inc. (“Famous Brandz”), recently signed its 9th license agreement with I.P.L. for access to various categories of its large Radio Days inventory of original images featuring historical celebrities, motion pictures, music albums, comics and other popular culture artwork (the “Radio Days License”). The Radio Days License grants Famous Brandz the right to reproduce and sell smoking accessories, including but not limited to bongs, containers, grinders, pipes, trays and vaporizers, to specialty retailers and distributors across North America over a term of 30 months.
Famous Brandz has begun the process of designing and producing a wide range of smoking accessories and cannabis lifestyle products featuring classic images of rock stars, pin-ups, sirens, horror movie characters and more. “Adding the Radio Days License to our existing stable of celebrity licenses, which include but are not limited to Snoop Dogg Pounds, Cheech & Chong’s Up in Smoke, Trailer Park Boys, Sublime and Guns N’ Roses, only strengthens Famous Brandz’ industry leading position in licensed product manufacturing and wholesale distribution,” said Raj Grover, President and Chief Executive Officer of High Tide. “High Tide continues to grow on all fronts, domestically and abroad, and this new line of Famous Brandz products will leverage our vertical integration as well as our understanding of the cannabis customer,” added Mr. Grover.
The Company also recently renewed its license with Da’ Grassy High Inc. (the “DGH License”) until the end of 2021, which grants Famous Brandz the right to manufacture, distribute and sell products featuring Kevin Smith’s well known movie characters Jay & Silent Bob, Bluntman & Chronic and Buddy Christ. The DGH License is an important agreement for Famous Brandz as it has enabled the business to develop highly recognizable products that have been sold successfully on both a wholesale and retail basis around the world. Based on the success of its celebrity licenses, High Tide expects to continue entering into agreements to reproduce popular brands and likenesses in the future.
Lastly, High Tide has granted 2,000,000 warrants to a consultant to assist on corporate and business development initiatives. The warrants have an exercise price of $0.50 per share and are exercisable for a period of two years from the effective date of the related consulting agreement and only vest and become exercisable upon the satisfaction of certain performance-based criteria.