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CALGARY , Feb. 14, 2020 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (HITI.CN) (HITIF) (2LY.F), an Alberta -based, retail-focused cannabis association added by the accomplishment and broad administration of smoker accessories and cannabis affairs products, today appear that it has entered into a bounden asset acquirement acceding (the “Agreement”) with Halo Labs Inc. (“Halo”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN), beneath which High Tide will advertise its KushBar retail cannabis assets and the rights to 5 acceptable retail cannabis food (the “Portfolio”) to Halo for $12 Actor , payable in the anatomy of 46,153,846 accepted shares of Halo, of which $3.5 Actor has been paid to High Tide as a non-refundable deposit, accountable to assertive bound affairs (the “Transaction”). In addition, Halo has agreed to appoint High Tide to essentially baby-sit all aspects of its retail cannabis operations with account to the Portfolio and will pay High Tide advancing royalties for authoritative advising casework and retail management, and a anchored fee for managing the architecture of the unopened stores.



Halo Labs Inc. & High Tide Inc. (CNW Group/High Tide Inc.)

The Transaction follows on Halo and High Tide’s antecedent advertisement of their cardinal affiliation in May of 2019. “Through the auction of KushBar beneath this transaction, High Tide simplifies its retail cannabis action to focus on Canna Cabana while abacus accession applicant for its evolving third-party retail abundance administration business,” said Raj Grover, High Tide’s President & Chief Executive Officer. “We are aflame to mark our cardinal access into the Canadian retail cannabis bazaar with this antecedent portfolio of assets in Alberta . We attending advanced to deepening our accord with High Tide and benefitting from its adeptness in retail abundance development and operations management,” added Kiran Sidhu , Chief Executive Officer of Halo. Following the closing of the Transaction, the Aggregation will still authority 14 development permits on hand, which it expects to advance into Canna Cabana retail cannabis food beyond Alberta in due course.



The Transaction is accountable to the analysis and approval of Alberta Gaming, Liquor & Cannabis (“AGLC”) and is accepted to abutting aural 150 days. The Portfolio includes operating KushBar cannabis retail food in Camrose and Morinville , a area advancing achievement in Medicine Hat , as able-bodied as acceptable retail cannabis abundance locations in Calgary , Edmonton , Edson and Fort McMurray .

The Aggregation accustomed the arising of 3,600,000 shares to pay assertive arm’s breadth third-party finders, all shares issued will be accountable to a four ages and one day accustomed authority period.

Separately, on January 31, 2020 , Alex Mackay , Chief Operating Officer, ancient High Tide for ancestors reasons. Back abutting High Tide in February of 2019, Mr. Mackay was primarily amenable for the retail and broad operations of the Company. Going forward, Raj Grover, President & Chief Executive Officer, will baby-sit the Company’s operations with the abetment from David Evelyn , Senior Director of Operations.

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About High Tide Inc.

High Tide (HITI.CN) (HITIF) (2LY.F) is an Alberta -based, retail-focused cannabis aggregation added by the accomplishment and broad administration of smoker accessories and cannabis affairs products. It is a vertically-integrated aggregation in the Canadian cannabis market, with portfolio subsidiaries including Canna Cabana Inc., KushBar Inc., Grasscity.com, Smoker’s Corner Ltd., RGR Canada Inc. and Famous Brandz Inc. High Tide’s action as a ancestor aggregation is to extend and strengthen its chip amount chain, while accouterment a complete chump acquaintance and maximizing actor value. Key industry investors in High Tide accommodate Aphria Inc. (APHA.TO) (APHA) and Aurora Cannabis Inc. (ACB) (ACB.TO).

With the deregulation of recreational cannabis for developed use beyond Canada , Canna Cabana Inc. and its 27 branded stores, is a abundant retail business with a developed yet antic chump experience. KushBar Inc. is a additional retail cannabis business with 2 operating food in Alberta , alms a avant-garde acquaintance aimed at the growing chump bases in Alberta and Ontario . Based in Amsterdam back 2000, Grasscity.com is the world’s capital and best searchable online banker of smoker accessories and cannabis affairs articles with about 5.8 actor armpit visits annually. Founded in 2009 and accustomed by the Canadian Franchise Association, Smoker’s Corner Ltd. is amid Canada’s better counter-culture chains with 7 locations. Representing the amount of High Tide’s broad segment, RGR Canada Inc. is a high-quality and avant-garde designer, architect and benefactor of cannabis accessories. Famous Brandz Inc. is a ascendant architect of accountant affairs accessories, through partnerships with celebrities and ball companies including Snoop Dogg and Paramount Pictures. Famous Brandz’ articles are awash to wholesalers and retailers about the world.

For added advice about High Tide Inc., amuse appointment www.hightideinc.com and its contour folio on SEDAR at www.sedar.com.

About Halo

Halo is a all-around cannabis cultivation, manufacturing, and administration aggregation that grows and extracts and processes affection cannabis flower, oils and concentrates. Halo is a all-around baton in cannabis oil and concentrates, accepting awash over 5 actor grams of oils and concentrates back birth which is the fastest growing articulation in the cannabis industry. The Aggregation has adeptness beyond all above cannabis accomplishment processes, leveraging a array of proprietary processes and products. In accession to concentrates, Halo operates agronomics sites including a 6-acre alfresco abound in Southern Oregon as able-bodied a greenhouse and planned alfresco abound in Lesotho.  Halo has connected to advance carrying amount with its articles and now via verticalization in key markets and globally. Afresh the aggregation entered into bounden agreements to access a berth in Los Angeles as able-bodied as an acceptation and administration authorization for medical cannabis annual in the United Kingdom. The forward-thinking aggregation is led by a strong, assorted administration aggregation with abysmal industry adeptness and baddest experience. The Aggregation is currently operating in California and Oregon , as able-bodied as in Nevada with our accomplice Just Quality, LLC, and in Lesotho with the 205-hectare Bophelo agronomics zone.

With a consumer-centric focus, Halo will abide to bazaar innovative, branded, and clandestine characterization articles beyond assorted artefact categories. Halo afresh acquired Berth Track belvedere which will allay chump breeze constraints accomplished by dispensaries and accredit absolute chump interaction.

For added advice apropos Halo, see Halo’s acknowledgment abstracts on SEDAR at www.sedar.com.

CONTACT INFORMATION

Halo LabInvestor Relationsinfo@halocanna.com

Forward-Looking Information

Certain statements in this account absolution are advanced advice or advanced statements, including, but not bound to statements with attention to the adeptness of the Aggregation to body on its absolute cannabis retail action in adjustment to abode bazaar appeal and the needs of boilerplate cannabis consumers, and the Company’s advance and amplification affairs and outlook. Such advice and statements, referred to herein as “forward-looking statements” are fabricated as of the date of this account absolution or as of the date of the able date of advice declared in this account release, as applicable. Advanced statements chronicle to approaching contest or approaching achievement and reflect accepted estimates, predictions, expectations or behavior apropos approaching events. Any statements that accurate or absorb discussions with account to predictions, expectations, beliefs, plans, projections, objectives, assumptions or approaching contest or achievement (generally, advanced statements can be articular by use of words such as “outlook”, “expects”, “intend”, “forecasts”, “anticipates”, “plans”, “projects”, “estimates”, “envisages, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or advertence that assertive actions, contest or after-effects “may”, “can”, “could”, “would”, “might”, or “will” be taken, action or be achieved, or the abrogating of any of these agreement or agnate expressions, and added agnate terminology) are not statements of absolute actuality and may be advanced statements.

Such advanced statements are based on assumptions that may prove to be incorrect, including but not bound to the adeptness of the Aggregation to assassinate on its business plan and that the Aggregation will accept one or assorted licenses from Alberta Gaming, Liquor & Cannabis, British Columbia’s Liquor Administration Branch, Liquor, Gaming and Cannabis Authority of Manitoba , Alcohol and Gaming Commission of Ontario or the Saskatchewan Liquor and Gaming Authority allowing it to backpack on its Canna Cabana Inc. business. The Aggregation considers these assumptions to be reasonable in the circumstances. However, there can be no affirmation that any one or added of the government, industry, market, operational or banking targets as set out herein will be achieved. Inherent in the advanced statements are accepted and alien risks, uncertainties and added factors that could account absolute results, achievement or achievements, or industry results, to alter materially from any results, achievement or achievements bidding or adumbrated by such advanced statements.

The forward‐looking statements independent herein are accepted as of the date of this account release. Except as appropriate by law, High Tide does not accept any obligation to admonish any being if it becomes acquainted of any blunder in or blank from any advanced statement, nor does it intend, or accept any obligation, to amend or alter these advanced statements to reflect new contest or circumstances. Any and all advanced statements included in this account absolution are especially able by this cautionary statement, and except as contrarily indicated, are fabricated as of the date of this account release.

SOURCE High Tide Inc.

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