CALGARY, AB, July 30, 2026 /CNW/ -- High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today, further to its press release dated June 15, 2026, that it has completed the acquisition contemplated by the share purchase agreement dated June 12, 2026 (the "Acquisition Agreement") pursuant to which High Tide acquired 100% of the equity interest of J. Supply Holdings Inc., operating as Northern Helm ("Northern Helm"), resulting in High Tide's acquisition of four retail cannabis stores operated by Northern Helm in Ontario (the "Stores") for $7.77 Million (the "Transaction"). The Stores are located at 2377 Highway 2 in Bowmanville, 225 Gore Road in Kingston, 1414 King St. E in Courtice, and 199 Wentworth St W in Oshawa. With the completion of the Transaction, High Tide now operates 228 cannabis retail store locations across Canada, including 103 in the province of Ontario.

"At High Tide, every acquisition and every new store must strengthen our competitive position for years to come. We remain highly disciplined in pursuing both acquisitions and organic growth opportunities, investing only where we see the ability to create meaningful long-term value for our shareholders," said Raj Grover, Founder and Chief Executive Officer of High Tide.

"This acquisition not only strengthens our presence across the Durham Region and eastern Ontario, but also provides an outstanding opportunity to welcome both existing and new cannabis consumers into our Cabana Club and ELITE ecosystem. We look forward to delivering the unmatched value, savings and member experience that continue to differentiate Canna Cabana," added Mr. Grover.

Transaction Details

The Transaction was completed pursuant to the terms of the Acquisition Agreement. The Transaction has been conditionally approved by the TSX Venture Exchange and is awaiting final approval. The consideration (the "Consideration") for the 100% of equity interests acquired was $3.06M in assumed debt with a 2% interest rate, with 40% of the remaining amount paid in cash ($1.88M), and the remaining 60% ($2.83M) paid in 921,486 common shares of High Tide ("High Tide Shares") on closing (the "Closing") on the basis of a deemed price of $3.067 per High Tide Share. The High Tide Shares are subject to a statutory hold period of four months and one day from the date of Closing. For the three months ended March 31, 2026, the Stores generated annualized revenue of $8.5 million and annualized Adjusted EBITDA of $1.7 million. The purchase price represents 4.5x the annualized Adjusted EBITDA of the Stores for that period, and is subject to adjustment for working capital.

ABOUT HIGH TIDE

High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. Its wholly owned subsidiary, Canna Cabana, is the second-largest cannabis retail brand globally. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:

Retail: Canna Cabana™ is the largest cannabis retail chain in Canada, with 228 domestic and 1 international location. The Company's Canadian bricks-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario, holding a growing 12% share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. The Company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived CBD products. In 2025, the Company became the first North American cannabis operator to launch a bricks-and-mortar presence in Germany.

Medical Cannabis Distribution: Remexian Pharma GmbH is a leading German pharmaceutical company, with a 14% share of the German medical cannabis market, built for the purpose of importation and wholesale of medical cannabis products at affordable prices. Among all German medical cannabis procurers, Remexian has one of the most diverse reaches across the globe and is licensed to import from 19 countries including Canada.

High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies by the Globe and Mail's Report on Business in 2025 for the fifth consecutive year and was recognized as a top 50 company by the TSX Venture Exchange (the "TSXV") in 2022, 2024 and 2025. High Tide was also ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023. To discover the full impact of High Tide, visit www.hightideinc.com. For investment performance, don't miss the High Tide profile pages on SEDAR+ and EDGAR.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements are often, but not always, identified by words such as "expect", "intend", "plan", "believe", "anticipate", "estimate", "may", "will", "could", "should" and similar expressions. Forward-looking statements in this news release include, without limitation, statements relating to: the receipt of final approval from the AGCO and TSXV of the Transaction; the final purchase price for the Transaction after adjustments; and the Company's ability to execute its retail expansion plans and operate the new stores as anticipated.

Forward-looking statements are based on management's current expectations and assumptions as of the date of this news release. Forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially, including, without limitation: delays or inability to obtain required regulatory approvals or authorizations; changes in competitive, market or consumer conditions; operational risks associated with opening and operating new stores; and the other risk factors discussed under the heading "Non-Exhaustive List of Risk Factors" in Schedule A to our current annual information form, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

CONTACT INFORMATION

Media Inquiries
Omar Khan
Chief Communications and Public Affairs Officer
High Tide Inc.
omar@hightideinc.com
403-770-3080

Investor Inquiries
Vahan Ajamian
Capital Markets Advisor
High Tide Inc.

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SOURCE High Tide Inc.