#Daily high club april 2022 pro#

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. High Tide has been serving consumers for over a decade through its established e-commerce platforms including, and, and more recently in the hemp-derived CBD space through and as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide’s retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA, 2 with 89 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The company's website at offers an engaging and fun shopping experience. Daily High Club boasts over 800,000 followers on Instagram and 75,000 followers on TikTok. Daily High Club has an active social media presence with numerous influencer and celebrity endorsements including deals with Tommy Chong, Chanel West Coast and more. Daily High Club provides a marketplace with a wide variety of high-quality products and subscription boxes.

With over one million consumption accessories sold and over 15,000 subscribers, Daily High Club is one of the leading online retailers of glass water pipes, vaporizers, and other in demand consumption accessories. In addition, the High Tide Shares having a value of 25% of the Consideration will be held in escrow to insure certain indemnification obligations if claims arise.įurthermore, High Tide granted 13,333 stock options (the ' Options') to Harrison Baum, exercisable at CAD$9.39 per High Tide Share for a period of three years. The High Tide Shares issued pursuant to the Share Consideration are subject to a statutory hold period of four months and one day. In connection with the Closing, Harrison Baum, Chief Executive Officer of Daily High Club, has joined the High Tide team as Director of Digital Marketing to oversee all social media initiatives for High Tide globally. Pursuant to the terms of the acquisition, the total consideration to Daily High Club shareholders for all the issued and outstanding securities of Daily High Club is: (i) 839,820 common shares of High Tide (“ High Tide Shares”) valued at US$6.75 Million (the “ Share Consideration”) on the basis of a deemed price per High Tide Share of CAD$9.92, being equal to the volume weighted average price per High Tide Share on the TSX Venture Exchange for the 10 consecutive trading days preceding the closing of the Transaction (“ Closing”) and (ii) US$3.25 million in cash (collectively with the Share Consideration, the “ Consideration”). subsidiary of the Company (“ Subco”), has acquired 100% of the issued and outstanding shares of Daily High Club. The Acquisition was completed pursuant to the terms of the merger agreement (the “ Acquisition Agreement”) previously announced by the Company on June 25, 2021, pursuant to which High Tide USA Inc., a Nevada corporation and a wholly-owned U.S. (“ High Tide” or the “ Company”) (TSXV: HITI) (Nasdaq: HITI) (FRA: 2LYA), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, is pleased to announce that it has completed the acquisition of DHC Supply LLC (the “ Acquisition”) operating as Daily High Club (“ Daily High Club”). exceeds CAD$50 million.ĬALGARY, Alberta-( BUSINESS WIRE)-High Tide Inc.

#Daily high club april 2022 pro#

Pro forma for the acquisition, High Tide’s revenue run rate in the U.S. Transaction is immediately accretive as Daily High Club generated US$9.4 million in net revenue and US$1.2 million in EBITDA during the 12 months ended April 2021. With over one million accessories sold under the Daily High Club name, High Tide adds a company to its portfolio with proven brand equity. High Tide bolsters its online presence, by gaining access to Daily High Club’s almost 800,000 followers on Instagram and over 75,000 followers on TikTok. High Tide gains access to Daily High Club’s over 15,000 subscription box members who are ideal customers for High Tide to potentially launch cannabis subscription boxes in the event of U.S. High Tide adds another top e-commerce platform to its portfolio which will now include 3 out of the top 5 most popular e-commerce platforms for consumption accessories globally totaling 91 million site visits in 2020, including 23 million associated with Daily High Club alone. E-commerce Marketplace for Consumption Accessories Acquisition Cements High Tide’s Position as Leader Within U.S.