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High Tide Expands Into Saskatoon With Opening of New Canna Cabana Store

Press Release

CALGARY, June 7, 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, announced today that its Canna Cabana retail cannabis store located at 2102 22 Street West in Saskatoon, Saskatchewan has begun selling recreational cannabis products and consumption accessories for adult use. This opening represents High Tide’s 126th branded retail location across Canada, and 10th in Saskatchewan, selling recreational cannabis products and consumption accessories. The store is High Tide’s first location in Saskatoon, which is the largest city in Saskatchewan with a population of over 266,000 people. It is situated on a major east-west road as part of a commercial corridor that includes numerous retail businesses and restaurants.

“With this organic store opening and expansion into Saskatoon, we are bringing our innovative discount club model directly to thousands of consumers who have not previously had the chance to shop with us in their home city. High Tide’s organic growth strategy focuses on gaining additional market share and developing a strong foothold in provinces where we already operate. This includes markets such as Saskatoon, where we anticipate opening additional locations throughout the rest of this year and into 2023,” said Raj Grover, President and Chief Executive Officer of High Tide. “The Saskatchewan government’s approach to the cannabis industry has made it one of the most attractive provinces to do business in, and because of this, we plan to meaningfully increase our presence in the province as we grow our business further. Saskatchewan’s regulatory environment has also made it the ideal province to launch our Cabana Cannabis Co. white label products. We expect to begin sales of these products in Saskatchewan next week, and I will update the market at that time with an anticipated schedule for rolling out Cabana Cannabis Co. products in additional jurisdictions,” added Mr. Grover.

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 126 current locations spanning Ontario, Alberta, Manitoba, and Saskatchewan. High Tide was featured in the third annual Report on Business Magazine’s ranking of Canada’s Top Growing Companies in 2021 and was named as one of the top 10 performing diversified industries stocks in the 2022 TSX Venture 50™. The Company is also North America’s first and only cannabis discount club retailer, featuring Canna Cabana, Meta Cannabis Co., and Meta Cannabis Supply Co. banners, with additional locations under development across the country. High Tide’s portfolio also includes retail kiosk 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, and BlessedCBD.de, as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information about High Tide Inc., please visit www.hightideinc.com, its profile page on SEDAR at www.sedar.com, and its profile page on EDGAR at www.sec.gov.

CONTACT INFORMATION

Media Inquiries

Omar Khan

Senior Vice President – Corporate and Public Affairs

[email protected]

Investor Inquiries

Vahan Ajamian

Capital Markets Advisor

[email protected]

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