Business

High Tide Announces Purchases of Shares by Insiders

Stock acquisition points to leaders’ faith in Canadian company’s gameplan and the intrinsic value of the company.

Published

1 year ago

April 3, 2023

Brad Cheng

Calgary’s High Tide this week reported officers, directors and consultants led by the company’s president and CEO Raj Grover, acquired 258,921 common shares in the capital of High Tide on the open market between March 24 and March 29. PHOTO CNW GROUP/HIGH TIDE

High Tide (NASDAQ: HITI) (TSXV: HITI) of Calgary, AB, #15 on the Global Cannabis 50’s ranking of top cannabis companies, announced today that certain officers, directors and consultants led by the company’s President and CEO, Raj Grover, purchased 258,921 common shares of High Tide between March 24 and March 29—at an average price of $1.59 per common share.

The purchase can be seen as a reflection of the company’s leaders confidence in the intrinsic value of the stock and the near-term and long-term growth prospects of High Tide. With these purchases, insiders and certain consultants, in the aggregate, now own or control 7,222,342 common shares, representing approximately 9.67% of the company’s issued and outstanding common shares as of March 29, 2023.

High Tide, Inc. is a leading Canadian, retail-forward cannabis enterprise with wholly-diversified and fully-integrated operations across all components of cannabis. including its subsidiary companies, wholesale arm Valiant Distribution and under licensing under Famous Brandz. It’s brick-and-mortar Canna Cabana stores comprise the largest non-franchised cannabis retail chain in Canada, with 151 current locations.

High Tide was ranked number one in the retail category on the Financial Times list of Americas’ Fastest Growing Companies for 2023. To learn more about the company, visit www.hightideinc.com.

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