High Tide Inc. (“High Tide” or the “Company”) (TSXV: HITI) (OTCQB: HITIF) (FRA: 2LY), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced that the Canna Cabana retail store located at 1702 Bow Valley Trail, in Canmore, Alberta, will begin selling recreational cannabis products for adult use today. This opening represents High Tide’s 77th branded retail location across Canada selling recreational cannabis products and consumption accessories. Located one-hour west of Calgary and only 5 minutes from the Banff National Park, the new Canmore store is strategically located within walking distance of several ski resorts and other tourist attractions.
High Tide is also pleased to announce that it has promoted Aman Sood to the position of Chief Operating Officer of the Company, effective March 15th, 2021. Mr. Sood has been serving as Senior Director, IT & Retail Operations since transitioning to High Tide after the Company’s acquisition of META Growth. Mr. Sood is a seasoned leader with over two decades of experience in retail sector project management, operations, technology, and cost optimization. He has proven successes in new market identification and strategic positioning for companies of all sizes. Having led the building and management of 25 NewLeaf Cannabis locations, Mr. Sood is a pioneer in the legal market who specializes in spearheading operational improvements to reduce shrink, enhance productivity, increase sales, and drive efficiencies. The Company has also approved the grant of 600,000 stock options for Mr. Sood to purchase common shares of High Tide as per the terms of the stock option plan.
“Along with our existing Banff location, the opening of this new Canmore store solidifies our presence within Alberta’s Bow Valley region which includes Banff National Park and the popular tourist hamlet of Lake Louise,” said Raj Grover, President and Chief Executive Officer of High Tide. “I am also very excited to announce the promotion of Mr. Sood who has played a leading role in driving the successful integration of META Growth into the High Tide family. I look forward to Aman bringing his expertise in driving operational efficiencies into his new leadership role on our team, particularly as we aggressively pursue new acquisition targets,” added Mr. Grover.
Grant of Stock Options and Restricted Share Units
The Company also announces that its Board of Directors has approved a grant of 5,000,000 stock options to purchase common shares of High Tide to certain officers, and consultants. In addition, the Company also announces that its Board of Directors has approved a grant of 1,000,000 restricted share units (“RSUs”) to certain directors of the Company pursuant to the Company’s restricted share unit plan. Each RSU entitles the holder to acquire one common share of the Company upon vesting.