High Tide Inc (HITI) News & EventsHITINews & EventsHigh Tide Inc

High Tide Adopts Shareholder Rights Plan

High Tide announced that its board of directors has approved the adoption of a shareholder rights plan agreement, and an amended and restated shareholder rights plan pursuant to agreements entered into with Olympia Trust Company, as Rights Agent, dated June 26. The amended and restated shareholder rights plan amends and restates the shareholder rights plan originally adopted by the board on April 10, 2025 and ratified by the company's shareholders at the company's annual general and special meeting held on May 30, 2025 to include the measures set out in the temporary shareholder rights plan.

High Tide Reports Q2 Revenue of C$179.3M

Reports Q2 revenue C$179.3M vs. C$137.8M last year. "Our second quarter results highlight the strength of High Tide's diversified growth strategy and our ability to execute at a high level across multiple geographies. Through the continued integration of Remexian, we have expanded our supply chain capabilities, eliminated unnecessary intermediaries, and are procuring biomass at materially lower costs than Remexian could on its own, enabling us to achieve key operational and financial objectives approximately 90 days ahead of our internal expectations," said Raj Grover, Founder and Chief Executive Officer of High Tide.

High Tide Acquires 100% Equity of Northern Helm for $7.74M

High Tide announced that it will acquire 100% of the equity interest of J. Supply Holdings, operating as Northern Helm, resulting in High Tide's acquisition of four of the six retail cannabis stores currently operated by Northern Helm in Ontario for $7.74M. These acquisitions will bring High Tide's total store count to 228 Canna Cabana locations across Canada and 103 in the province of Ontario. 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 and the Alcohol and Gaming Commission of Ontario, and the satisfaction of other customary conditions of closing, and is expected to close in the coming weeks. 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, and the remaining 60% paid in common shares of High Tide on 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 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.