High Tide Announces 9th Celebrity License Secured by Famous Brandz and Renewal of Key Existing License
High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI, OTCQB:HITIF, Frankfurt:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that its wholly-owned subsidiary, Famous Brandz Inc. (“Famous Brandz”), recently signed its 9th license agreement with I.P.L. for access to various categories of its large Radio Days inventory of original images featuring historical celebrities, motion pictures, music albums, comics and other popular culture artwork (the “Radio Days License”). The Radio Days License grants Famous Brandz the right to reproduce and sell smoking accessories, including but not limited to bongs, containers, grinders, pipes, trays and vaporizers, to specialty retailers and distributors across North America over a term of 30 months.
Famous Brandz has begun the process of designing and producing a wide range of smoking accessories and cannabis lifestyle products featuring classic images of rock stars, pin-ups, sirens, horror movie characters and more. “Adding the Radio Days License to our existing stable of celebrity licenses, which include but are not limited to Snoop Dogg Pounds, Cheech & Chong’s Up in Smoke, Trailer Park Boys, Sublime and Guns N’ Roses, only strengthens Famous Brandz’ industry leading position in licensed product manufacturing and wholesale distribution,” said Raj Grover, President and Chief Executive Officer of High Tide. “High Tide continues to grow on all fronts, domestically and abroad, and this new line of Famous Brandz products will leverage our vertical integration as well as our understanding of the cannabis customer,” added Mr. Grover.
The Company also recently renewed its license with Da’ Grassy High Inc. (the “DGH License”) until the end of 2021, which grants Famous Brandz the right to manufacture, distribute and sell products featuring Kevin Smith’s well known movie characters Jay & Silent Bob, Bluntman & Chronic and Buddy Christ. The DGH License is an important agreement for Famous Brandz as it has enabled the business to develop highly recognizable products that have been sold successfully on both a wholesale and retail basis around the world. Based on the success of its celebrity licenses, High Tide expects to continue entering into agreements to reproduce popular brands and likenesses in the future.
Lastly, High Tide has granted 2,000,000 warrants to a consultant to assist on corporate and business development initiatives. The warrants have an exercise price of $0.50 per share and are exercisable for a period of two years from the effective date of the related consulting agreement and only vest and become exercisable upon the satisfaction of certain performance-based criteria.
About High Tide Inc.
High Tide is an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. 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. Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).
Representing the core of High Tide’s business, RGR Canada Inc. is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Famous Brandz Inc. is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures. Famous Brandz’ products are sold to wholesalers and retailers around the world. Founded in 2009 and approved by the Canadian Franchise Association, Smoker’s Corner Ltd. is among Canada’s largest counter-culture chains with 14 locations. Kush West Distribution is in the process of becoming a cannabis wholesaler in the province of Saskatchewan. Based in Amsterdam since 2000, Grasscity.com is the world’s preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc. and its 21 branded stores (including accessories-only locations), is in the process of becoming a sizeable retail brand with a sophisticated yet playful customer experience, while KushBar Inc. is a retail concept that will also be focused on the valued Canadian cannabis consumer.
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 from Alberta Gaming, Liquor & Cannabis, British Columbia’s Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority of Manitoba, Alcohol and Gaming Commission of Ontario or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. and KushBar Inc. businesses. High Tide considers these assumptions to be reasonable in the circumstances. 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 are 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.