High Tide Celebrates Recognition as a Leading Canadian Cannabis Company
High Tide's Recognition by TSX Venture Exchange
A Proud Achievement for the Company
High Tide Inc. (NASDAQ: HITI) has been honored by the TSX Venture Exchange as one of its Top 50 companies for the second consecutive year. This recognition marks a significant milestone for High Tide, reflecting its exceptional performance in the cannabis industry.
Ranked Among the Best
This year, High Tide clinched the 21st position out of 50, being one of only two cannabis companies featured on this prestigious list. The TSX Venture 50 recognizes leading companies based on criteria such as share price appreciation, trading volume, and market capitalization growth.
High Tide's Commitment to Customer Loyalty
Raj Grover, the Founder and Chief Executive Officer of High Tide, expressed his enthusiasm for this achievement. He noted that it symbolizes the hard work of the whole team and their focus on operational excellence. High Tide’s domestic operations have been thriving, particularly with the rapid expansion of Canna Cabana. The Cabana Club, in particular, has gained over 1.7 million members, showcasing a robust customer loyalty program.
Expanding into International Markets
High Tide is not just satisfied with local success; it is looking beyond borders. The company has exciting plans for international expansion, specifically targeting emerging markets like Germany. The goal is to establish a diverse range of Canadian cannabis brands and products that cater to global audiences.
Overview of High Tide's Operations
High Tide, Inc. is a community-driven cannabis enterprise recognized as the second-largest cannabis retailer globally based on store count. With a diverse strategy that includes various aspects of cannabis retail, it has developed a comprehensive approach to achieving consumer satisfaction.
Bricks & Mortar Retail: The company operates Canna Cabana™, Canada's largest cannabis retail chain, boasting 192 locations across various provinces. Its unique positioning as the first cannabis discount club retailer in the world sets it apart in the marketplace.
Retail Innovation: Through innovative technologies like Fastendr™, High Tide enhances the consumer experience by providing automated retail kiosks for an efficient shopping process.
Consumption Accessories: High Tide holds several leading e-commerce platforms globally, including Grasscity.com and Smokecartel.com, catering to the cannabis accessory market.
Strong Brand Portfolio: High Tide’s brands include Queen of Bud™, Cabana Cannabis Co™, and Daily High Club™, showcasing its commitment to delivering quality products to its customers.
CBD Initiatives: The company is actively exploring the consumer CBD market with brands like Nuleafnaturals.com and FABCBD.com, expanding its product range.
Wholesale and Licensing: With Valiant™, High Tide manages a robust wholesale distribution network, ensuring the cannabis inventory is well-stocked across various markets, and continues to forge growth through licensing agreements under the Famous Brandz™ label.
Acclaim and Future Prospects
High Tide's achievements extend beyond the current accolades. It has been recognized as one of Canada's Top Growing Companies by a prominent Canadian publication for multiple consecutive years, highlighting its resilience and growth potential in the competitive cannabis sector.
Additionally, High Tide was ranked among the top-performing diversified industry stocks, further solidifying its position as an industry leader. The company was recognized for its rapid growth in the retail segment, reflecting its comprehensive understanding of the market and consumer behavior.
Contact Information
Media Inquiries:
Omar Khan
Chief Communications and Public Affairs Officer
High Tide Inc.
403-770-3080
Investor Inquiries:
Vahan Ajamian
Capital Markets Advisor
High Tide Inc.
403-770-3080
Frequently Asked Questions
1. What recognition did High Tide recently receive?
High Tide was recognized as a Top 50 company by the TSX Venture Exchange for the second year in a row.
2. Why is this recognition significant for High Tide?
This distinction highlights High Tide's strong performance in share price appreciation, trading volume, and market growth.
3. What markets is High Tide planning to expand into?
High Tide is looking to expand into international markets, with Germany being a primary target.
4. What types of products does High Tide offer?
High Tide offers cannabis retail, consumption accessories, CBD products, and wholesale distribution solutions.
5. Who should inquiries be directed to for media or investor relations?
Media inquiries can be directed to Omar Khan, while investor inquiries can be sent to Vahan Ajamian at High Tide Inc.
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