High Tide to Open Canna Cabana Store in Lucan, Ontario

CALGARY, Alberta, Sept. 5, 2024 – PRESS RELEASE – High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced that its Canna Cabana retail cannabis store located at 389 Main Street, Lucan, Ontario, will begin selling recreational cannabis products and consumption accessories for adult use Sept. 6. This opening will mark High Tide's 183rd Canna Cabana branded retail cannabis location in Canada, the 69th in the province of Ontario, and will be the first licensed retail cannabis store to open in Lucan.

The store, roughly halfway between the major university and college hub of London, Ontario, and the popular beach town of Grand Bend, is in Lucan, Ontario, and nestled amongst the scenic farmlands of Southwestern Ontario. This organic Canna Cabana location will open in a brand-new and rapidly growing retail plaza, with anchor tenants that include a major provincial grocery chain, a Canadian discount retailer and several quick-service restaurants.

"I am thrilled to announce the opening of our new Cabana in Lucan, Ontario,” High Tide founder and CEO Raj Grover said. “Expansion into Ontario's cottage country and other underserved areas has been a large focus for High Tide this year, as we have seen demand increase for our Cabana Club. While some of our competitors file for bankruptcy protection, our team has been charting a thoughtful path towards 300 Canna Cabana locations across Canada.

"September is already off to a great start, with the successful launch of Canna Cabana's next-gen website and our upcoming third fiscal quarter filing. I am enthusiastic about the remainder of 2024 as we put the finishing touches on new organic store openings and other exciting projects in our pipeline, about which I hope to share more details soon.”

Employee Stock Options Grant

In addition, High Tide announces the grant of 60,000 incentive stock options (the "options") and 50,000 in cancellations to various employees, consultants and management of the company. Each option is exercisable at the closing price of the company's common shares listed on the TSX Venture Exchange based on the last trading day immediately prior to this press release, which expires three years from the date of grant, and vests over a two-year period. Each option is exercisable to purchase one common share of the company and are being issued pursuant to the terms of the company's omnibus plan, which became effective on June 2, 2022.