High Tide surpasses two million Cabana Club members

Mr. Raj Grover reports HIGH TIDE TOPS 2 MILLION CABANA CLUB MEMBERS AND 100,000 ELITE MEMBERS NATIONWIDE High Tide Inc. has officially surpassed two million Cabana Club members, solidifying its position as the largest and most robust brick-and-mortar cannabis loyalty program in Canada. In addition, the company's paid loyalty tier, Elite, has exceeded 104,000 members nationwide -- a major milestone in the growth of its innovative discount club model. "Crossing two million Cabana Club members and surpassing 100,000 Elite members are landmark achievements for High Tide and clear proof points of the power behind our unique discount club model," said Raj Grover, founder and chief executive officer of High Tide. "Our rapidly growing membership base fuels the loyalty engine that drives traffic, margin and differentiation. As we continue our expansion towards over 300 Canna Cabana locations across the country, I'm confident our Cabana Club and Elite programs will remain key drivers of growth as we expand our national footprint and continue elevating the cannabis retail experience." Base shelf prospectus High Tide is also pleased to announce that it has filed a preliminary short-form base shelf prospectus to replace its final short-form base shelf prospectus dated Aug. 3, 2023, in anticipation of its expiry on Sept. 3, 2025. The prospectus will provide the company with the flexibility to take advantage of financing opportunities and favourable market conditions, if and when needed, during the 25-month period that the prospectus, once made final, remains effective. The prospectus has been filed in each of the provinces and territories in Canada. The prospectus, when final and effective, will enable the company to offer, issue and sell, from time to time: common shares, warrants, units, subscription receipts, debt securities, convertible securities or any combination of such securities for up to an aggregate offering price of $100-million (or its equivalent) in one or more transactions during the effective period. A copy of the prospectus may be obtained under the company's SEDAR+ and EDGAR profiles. The company has also filed a corresponding shelf registration statement relating to the securities with the U.S. Securities and Exchange Commission under the U.S.-Canada multijurisdictional disclosure system. The company may also use the prospectus in connection with an at-the-market distribution in accordance with applicable securities laws, which would permit securities to be sold on behalf of the company through the TSX Venture Exchange, Nasdaq Stock Exchange (or other existing trading markets), as further described in the applicable prospectus supplement. To date, no agreement has been entered into with respect to such distribution. The company may use the net proceeds from the sale of the securities for general corporate purposes, capital projects, internal expansion, or the acquisition of other businesses, assets or securities by the company or one of its subsidiaries. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under securities laws of any such jurisdiction. The company currently has no immediate plans to issue any securities under the prospectus at this time and may never proceed with any such issuance. If any securities are offered under the prospectus, the terms of any such securities and the intended use of the net proceeds resulting from such offering would be established at the time of any offering and would be described in a prospectus supplement filed with the applicable securities regulatory authorities at the time of such offering and would be made available by High Tide. About High Tide Inc. High Tide is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant and is the second-largest cannabis retailer globally by store count. High Tide is uniquely built around the cannabis consumer, with wholly diversified and fully integrated operations across all components of cannabis, including: Brick-and-mortar retail: Canna Cabana is the largest cannabis retail chain in Canada, with 202 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. Retail innovation: Fastendr is a unique and fully automated technology that employs retail kiosks to facilitate a better buying experience through browsing, ordering and pickup. Consumption accessories: High Tide operates a suite of leading accessory e-commerce platforms across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com and Dankstop.com. Brands: High Tide's industry-leading and consumer-facing brand roster includes Queen of Bud, Cabana Cannabis Co., Daily High Club, Vodka Glass, Puff Puff Pass, Dopezilla, Atomik, Hue, Evolution and more. CBD (cannabidiol): High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk. Wholesale distribution: High Tide keeps that cannabis category stocked with wholesale solutions through Valiant. Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and licence agreements under the Famous Brandz name. High Tide consistently moves ahead of the currents, having been named one of Canada's top growing companies in 2021, 2022 and 2023 by The Globe and Mail's Report on Business magazine, and was named as one of the top 10 performing diversified industries stocks in both 2022 and 2024 TSX Venture 50. High Tide was also ranked No. 1 in the retail category on the Financial Times list of the Americas' Fastest Growing Companies for 2023. We seek Safe Harbor.