. The Toronto Store has a strong operating history, being one of the original 25 cannabis retail stores operating in the province.
High Tide and the vendor agreed to reduce the original purchase price, agreed in March 2019, which was to be partially paid in common shares in the capital of the Company at a deemed price of $0.48.
“As one of the original Ontario lottery winners, the Toronto Store has been successfully operating on Toronto’s iconic Yonge Street since June 2019 and has demonstrated consistent success for almost two years,” said Raj Grover, High Tide’s President & Chief Executive Officer.
High Tide has been serving consumers for over a decade through its numerous consumption accessory businesses including e-commerce platforms Grasscity.com and CBDcity.com, and its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz.
Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions.
Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the retail cannabis markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the retail cannabis industries generally; income tax and regulatory matters; the ability of High Tide to implement its business strategy; competition; currency and interest rate fluctuations; the COVID-19 pandemic nationally and globally and the response of governments to the COVID-19 pandemic in respect of the operation of retail stores and other risks.
Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of High Tide in this press release may not be indicative of, and are not an estimate, forecast or projection of High Tide future results.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America.