Calgary, AB, July 30, 2018 / CNW / – High Tide Ventures Inc. (“High Tide” or the “Company”) today announced that it has recently entered into multiple non-binding memorandums of understanding (“MOUs”) to supply the Saskatchewan market on a wholesale basis for a combined total of up to 9,500 kilograms of cannabis products over the next year, as available. High Tide is in the process of becoming a licensed wholesaler of cannabis products in the province of Saskatchewan. The MOUs are with FV Pharma Inc. (“FV Pharma”), Maple Leaf Green World Inc. (“Maple Leaf”), Sundial Growers Inc. (“Sundial”) and The Supreme Cannabis Company, Inc. (“Supreme”).
“High Tide has achieved an important strategic milestone by securing its first wholesale business partners for Saskatchewan and the province’s 51 retail cannabis outlets”, said Raj Grover, President & Chief Executive Officer of High Tide. “Entering into these MOUs positions High Tide as significant source of both cannabis products and lifestyle accessories in a forward-thinking market,” added Grover. High Tide is focused on becoming a strong downstream player in the legal recreational cannabis industry in Canada. Through its subsidiaries, the Company has also applied for over 30 retail cannabis licenses and associated development permits in Alberta, with applications in British Columbia expected to be submitted shortly.
FV Pharma is a wholly-owned subsidiary of FSD Pharma Inc. (CSE:HUGE) (OTC:FSDDF), which is a licensed producer that is working together is working together with Auxly (formerly Cannabis Wheaton Income Corp.) (TSX.V:XLY) to achieve its mission to develop the largest hydroponic indoor cannabis cultivation facility in Cobourg, Ontario, Canada. Maple Leaf (NEO:MGW) (OTCQB:MGWFF) currently operates cannabis projects in British Columbia and Nevada and applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free organic cannabis products. Sundial is a privately held, Alberta-based Health Canada ACMPRapproved licensed product of medical cannabis with a focus on producing consistent cannabis that customers can trust. The Supreme Cannabis Company (TSXV:FIRE) is a Canadian company committed to providing premium brands and products through a portfolio that includes its whollyowned subsidiary 7ACRES, which is a federally licensed producer of medical cannabis operating inside a 342,000-square-foot facility in Kincardine, Ontario.
About High Tide Ventures Inc.
High Tide is a privately-held, Alberta-based, retail-focused cannabis corporation. It is among the most vertically-integrated players in the Canadian cannabis market, with portfolio companies including Famous Brandz, RGR Canada, Smoker’s Corner and Canna Cabana. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.
Representing the core of High Tide’s business, RGR Canada is a high-quality and innovative designer, manufacturer and distributor of lifestyle accessories. Founded in 2009 and approved by the Canadian Franchise Association, Smoker’s Corner is Canada’s largest counter-culture chain with 19 current locations. Famous Brandz is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies like Snoop Dogg and Paramount Pictures, respectively, which are sold to wholesalers and retailers around the world. Upon the legalization of recreational cannabis across Canada on October 17, 2018, Canna Cabana is positioned to become a large retail brand through a modern and sophisticated yet playful concept. For more information about High Tide Ventures Inc., please visit www.hightideventures.com.
Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as “forward-looking statements” are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as “outlook”, “expects”, “intend”, “forecasts”, “anticipates”, “plans”, “projects”, “estimates”, “envisages, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or stating that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan and that High Tide will receive one or multiple licenses in various forms from the Saskatchewan Liquor and Gaming Authority, Alberta Liquor and Gaming Commission or British Columbia’s Liquor Distribution Branch permitting it to carry on its wholesale and retail businesses. High Tide considers these assumptions to be reasonable in the circumstances, given the time periods for such outlook. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.
The forward‐looking statements contained herein is current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
SOURCE High Tide Ventures Inc.
For further information, please contact Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets at High Tide Ventures Inc.; Tel: (403) 265-4207; Email: [email protected]tures.com; Web: www.hightideventures.com.