High Tide Inc. (HITI) issued a series of corporate updates as the cannabis retailer continues executing on its global growth strategy. The company reported steady progress toward its planned acquisition of a leading German medical cannabis importer and wholesaler, a fully funded transaction that High Tide says will be one of the most significant in its history. Definitive agreements are expected in the near term.
The company also appointed Sri Pavithra Priyalakshmi as Vice President, Digital and eCommerce, bringing more than a decade of experience in digital transformation and eCommerce leadership across global markets. High Tide will present at Canaccord Genuity’s 45th Annual Growth Conference this week, meeting with institutional investors to discuss its growth outlook.
To maintain financial flexibility, High Tide filed a new base shelf prospectus in Canada and a corresponding U.S. registration statement, enabling the potential issuance of up to C$100 million in securities over the next 25 months. The company noted it has drawn only ~C$4 million from its previous shelf over two years, underscoring a disciplined approach to capital raising.
These updates arrive as High Tide shares have climbed nearly 10% this week, benefiting from sector-wide momentum following a Wall Street Journal report that former President Donald Trump is considering reclassifying marijuana as a Schedule III drug.
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