CALGARY, AB, March 28, 2022 /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company”) (TSXV: HITI) (Nasdaq: HITI) (FSE: 2LYA), Canada’s largest cannabis retailer, with 113 cannabis retail stores currently operating nationwide, including 34 in Ontario,1 welcomes the Alcohol and Gaming Commission of Ontario’s (AGCO) decision to amend the Registrar’s Standards for Cannabis Retail Stores, effective June 30, to permit retail cannabis licensees to enter into agreements with Licensed Producers related to store brand or white label cannabis products. The change comes after extensive consultation with industry stakeholders and was supported by the Ontario Chamber of Commerce.
“The AGCO has shown that it is willing to listen to the concerns of stakeholders. Today’s revisions to the Registrar’s Standards will mean that when it comes to white label products and store brands, Ontario’s cannabis retailers will be treated on par with other retail sectors, both regulated and unregulated. The new Standard will also facilitate retailers both large and small, in differentiating their products, brands, and stores,” said Raj Grover, President and Chief Executive Officer of High Tide. “With today’s news we intend to move quickly to work with the Ontario Cannabis Store to get our under-development Cabana Cannabis Co. products listed in Canada’s largest province,” added Mr. Grover.
GRANT OF OPTIONS
Furthermore, High Tide granted 5,000 stock options (the “Options”) to certain employees, that fully vest over a two (2) year period and are exercisable for a period of three (3) years.
SEAN GENG’S TRANSITION
The Company also announced that Sean Geng has transitioned from the Chief Technology Officer role into a technology consulting position. The role of Chief Technology Officer has been filled and the Company will announce details within the coming weeks.
SOURCE High Tide Inc.
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