High Tide Ranks 21st Out of 430 In Globe and Mail’s Annual Ranking of Canada’s Top Growing Companies With 1970% Revenue Growth Over Three Years
CALGARY, September 23, 2022 – High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, is pleased to announce that it has ranked 21st out of 430 companies on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Canada’s Top Growing Companies ranks Canadian companies based on their three-year revenue growth. High Tide earned its spot with a three-year growth rate of 1,970%.
This follows the Company’s 2021 ranking of 82nd out of 448 companies with a three-year growth rate of 733%.
“The Globe and Mail, Canada’s newspaper of record, has, for the second year in a row, recognized High Tide’s exponential growth, ranking us 21st out of 430 on its annual ranking of Canada’s Top Growing Companies due to our three-year revenue growth rate of 1,970%. Receiving this honour two years running is a testament to our ability to continue to execute our strategic growth plan despite ongoing market challenges,” said Raj Grover, President and Chief Executive Officer of High Tide. “Since opening our first bricks-and-mortar store in October 2018, High Tide has grown to over 1,300 employees, 140 retail stores today across Canada and a global portfolio of high-performing e-commerce assets. The months ahead hold exciting opportunities for High Tide, including further strategic expansion of our retail locations in Canada, the accelerated rollout of our proprietary Fastendr retail kiosks, the expansion of our white label product offerings in select provinces, and the launch of our Cabana Elite paid membership program, driving further revenue growth,” added Mr. Grover.
Canada’s Top Growing Companies is an editorial ranking that was launched in 2019. It aims to celebrate the boldest entrepreneurial achievement by identifying and bringing the accomplishments of innovative businesses in Canada to the forefront. In order to qualify for this voluntary program; companies had to complete an in-depth application process and fulfill requirements. In total, 430 companies earned a spot on this year’s ranking.
The full list of 2022 winners along with editorial coverage is published in the October issue of the Report on Business magazine. The list is now available and online here.
“Canada’s Top Growing Companies recognizes the tremendous ambition and innovation of entrepreneurs in Canada,” says Dawn Calleja, Editor of Report on Business magazine. “The next generation of Canadian businesses can draw inspiration from this ranking”.
“In an uncertain world, the success stories of the companies marked in this year’s Report on Business magazine’s list of Top Growing Companies are a beacon of optimism,” says Phillip Crawley, Publisher and Chief Executive Officer of The Globe and Mail. “The Globe and Mail congratulates them on their achievements”.
ABOUT THE GLOBE AND MAIL
The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 5.9 million readers every week in our print or digital formats, and Report on Business magazine reaches 2.3 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 140 current locations spanning Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan. The Company is also North America’s first cannabis discount club retailer, under the Canna Cabana banner, which is the single-largest cannabis retail brand in Canada with additional locations under development across the country. High Tide’s portfolio also includes retail kiosks and smart locker technology – Fastendr™. High Tide has been serving consumers for over a decade through its established e-commerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more recently in the hemp-derived CBD space through Nuleafnaturals.com, FABCBD.com, BlessedCBD.co.uk, BlessedCBD.de, and Amazon United Kingdom, as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide has been featured in the annual Report on Business Magazine’s ranking of Canada’s Top Growing Companies in 2021 and 2022 and was named as one of the top 10 performing diversified industries stocks in the 2022 TSX Venture 50™. 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.
For more information about High Tide, please visit www.hightideinc.com and its profile pages on SEDAR atwww.sedar.com and EDGAR at www.sec.gov.