Andrew Semple

Matt Bottomley

Frederico Yokota Gomes

Michael Regan

Scott Fortune

Brenna Cunnington

Doug Cooper

Frederico Gomes

Ty Collin

William Kirk

- High Tide Inc. has been recognized for the **fifth consecutive year** on the **2025 Report on Business ranking of Canada's Top Growing Companies**.  **[1847409_0001279569-25-001055_ex991.htm:0]** **[1847409_0001279569-25-001055_ex991.htm:1]** 
- For 2025, the company placed **No. 182 out of 400 companies** with a **three-year revenue growth rate of 188%**, following a **2024 ranking of 87th** with a **486% three-year growth rate**.  **[1847409_0001279569-25-001055_ex991.htm:0]** 
- The company recently completed a **majority acquisition of Remexian**, marking its entry into Europe's largest cannabis market, which is expected to enhance its revenue profile and broaden its international footprint.  **[1847409_0001279569-25-001055_ex991.htm:0]** **[1847409_0001279569-25-001055_ex991.htm:1]**

High Tide recognized as a Top Growing Company for fifth consecutive year and expands into European market

- High Tide Inc. was ranked **No. 182** on the **2025 Report on Business ranking of Canada's Top Growing Companies**, marking its **fifth consecutive year** on the list.  **[1847409_20250926CA84050:0]** 
- The company achieved a **three-year revenue growth rate of 188%** for the 2025 ranking, following a **486% growth rate** and a **No. 87 ranking in 2024**.  **[1847409_20250926CA84050:0]** 
- The recent **majority acquisition of Remexian** is expected to enhance revenue, broaden international footprint, and create new growth opportunities by entering Europe's largest cannabis market.  **[1847409_20250926CA84050:0]** **[1847409_20250926CA84050:1]** 
- High Tide's wholly-owned subsidiary, Canna Cabana, operates as the **largest cannabis retail chain in Canada** with **210 locations** and holds a **12% market share**.  **[1847409_20250926CA84050:0]**

High Tide Inc. Ranks on Canada's Top Growing Companies List for Fifth Consecutive Year

- High Tide Inc. announced the opening of **three new Canna Cabana branded locations** in North York, Etobicoke (Ontario), and Fort McMurray (Alberta), with openings scheduled between **September 26 and September 29, 2025**.  **[1847409_20250924CA81836:0]** 
- These new openings will bring High Tide's total Canna Cabana store count to **210 locations** across Canada, including **89 in Alberta** and **88 in Ontario**.  **[1847409_20250924CA81836:0]** 
- The company plans to accelerate store openings, targeting **two to three new locations per month**, which will be **self-funded** from profits.  **[1847409_20250924CA81836:0]** 
- Canna Cabana is recognized as the **second-largest cannabis retail brand globally** and the **largest cannabis retail chain in Canada**, holding a **12% market share**.  **[1847409_20250924CA81836:0]** **[1847409_20250924CA81836:1]**

High Tide to Open Three New Canna Cabana Locations

- **High Tide Inc.** completed the acquisition of a **51% equity stake** in Remexian Pharma GmbH on **September 1, 2025**.  **[1847409_0001279569-25-001024_ex991.htm:0]** 
- The estimated purchase price for the 51% interest was **€26.4 million**, which represents **3.64065 times** Remexian's Annualized Adjusted EBITDA for the six months ended March 31, 2025.  **[1847409_0001279569-25-001024_ex991.htm:0]** 
- The consideration for the acquisition included **€11.1 million** in High Tide common shares, **€7.65 million** in cash, and **€7.65 million** via loans from the sellers.  **[1847409_0001279569-25-001024_ex991.htm:0]** 
- High Tide has a **five-year call option** to acquire the remaining interest in Remexian after 24 months, with a minimum price of **€15 million** and at least **40% cash payment** if exercised.  **[1847409_0001279569-25-001024_ex991.htm:0]**

High Tide Inc. Completes Acquisition of 51% Stake in Remexian Pharma GmbH

- High Tide reported **record Q3 revenue of $149.7 million** and **adjusted EBITDA of $10.6 million** for the quarter ended July 31, 2025, alongside **$7.7 million in free cash flow**.  **[1847409_2146192_5]** 
- The company expanded into the German medical cannabis market by acquiring **51% of Ramexian Pharma** for **€26.4 million** on September 2, 2025, with Ramexian generating annualized revenue of **€70 million** and **€15 million** in adjusted EBITDA for the six months ended March.  **[1847409_2146192_0]** **[1847409_2146192_4]** 
- High Tide's Canna Cabana operates as the **largest retail cannabis brand in Canada** with over **207 stores**, demonstrating **137% same-store sales growth** since October 2021 and holding a **12% market share**.  **[1847409_2146192_0]** **[1847409_2146192_3]** 
- Its ELITE loyalty program has grown to **115,000 paying members**, contributing to strong customer loyalty and increased sales.  **[1847409_2146192_0]** **[1847409_2146192_7]**

High Tide Reports Record Q3 Results and German Market Entry

- High Tide reported its strongest quarter in company history for Q3 2025, with **record revenue of $149.7 million** (up **14% year over year**) and **record adjusted EBITDA of $10.6 million** (up **11% year over year**).  **[1847409_2145693_1]** **[1847409_2145693_5]**  The company also achieved positive **net income of $832,000** and generated **$7.7 million in free cash flow**.  **[1847409_2145693_1]** **[1847409_2145693_6]** 
- The company completed the acquisition of a **51% stake in Remexian**, a German medical cannabis distributor, marking its entry into the German market.  **[1847409_2145693_1]** **[1847409_2145693_3]**  Remexian contributed annualized revenue of **€70 million** and adjusted EBITDA of **€15 million** for the six months ended March 2025, establishing High Tide with a **16% market share** in Germany.  **[1847409_2145693_2]** 
- High Tide's core bricks-and-mortar segment continued its strong performance, with **same-store sales growth accelerating to 7.4%** year over year and bricks-and-mortar adjusted EBITDA reaching a record **$12.7 million**, an increase of **42% year over year**.  **[1847409_2145693_1]**  The company operates **207 Canna Cabana locations** in Canada and plans to add **20 to 30 new locations** in calendar 2024.  **[1847409_2145693_1]** **[1847409_2145693_5]** 
- The company's consolidated debt is **$69 million**, which is **1.5 times its attributable adjusted EBITDA**, and it secured a **$30 million junior subordinated loan** in July 2025.  **[1847409_2145693_3]** **[1847409_2145693_4]** **[1847409_2145693_6]**

High Tide Reports Record Q3 2025 Financial Results and Completes German Market Entry

- High Tide Inc. reported **record revenue of $149.7 million** and **record Adjusted EBITDA of $10.6 million** for the third fiscal quarter ended July 31, 2025.  **[1847409_0001279569-25-000989_ex991.htm:1]** 
- The company achieved **positive free cash flow of $7.7 million**, representing a **148% increase year over year**, and **positive net income of $832 thousand** in Q3 2025.  **[1847409_0001279569-25-000989_ex991.htm:0]** **[1847409_0001279569-25-000989_ex991.htm:1]** 
- **Same-store sales grew by 7.4% year over year**, marking the fastest growth rate in two years, and Canna Cabana's market share reached **12%** across five Canadian provinces.  **[1847409_0001279569-25-000989_ex991.htm:0]** **[1847409_0001279569-25-000989_ex991.htm:1]** 
- High Tide expanded its global footprint by acquiring a **51% interest in Remexian Pharma GmbH**, entering the German medical cannabis market.  **[1847409_0001279569-25-000989_ex991.htm:0]** **[1847409_0001279569-25-000989_ex991.htm:2]**

High Tide Reports Strong Q3 2025 Financial Results

- High Tide Inc. reported **revenue of $149,690 thousand** for the three months ended July 31, 2025, representing a **14% increase** year-over-year.  **[1847409_0001847409-25-000005_hiti-exhibit992mda.htm:3]** 
- For Q3 2025, the company generated **$7,682 thousand in free cash flow**, a **148% increase** compared to the prior year, and **Adjusted EBITDA of $10,643 thousand**, up **11%**.  **[1847409_0001847409-25-000005_hiti-exhibit992mda.htm:3]** 
- The company's wholly-owned subsidiary, Canna Cabana, is Canada's largest cannabis retail brand with **207 operating locations** and is on track to open **20-30 new locations** in calendar year 2025.  **[1847409_0001847409-25-000005_hiti-exhibit992mda.htm:2]** 
- The Cabana Club loyalty program has surpassed **2.15 million members in Canada** and **6.15 million globally**.  **[1847409_0001847409-25-000005_hiti-exhibit992mda.htm:2]** 
- Subsequent to the quarter, on September 1, 2025, High Tide acquired **51% of Remexian Pharma GmbH** for an estimated **$42.4 million**, paid through common shares, cash, and seller loans.  **[1847409_0001847409-25-000005_hiti-ex991condensedinterim.htm:23]**

High Tide Inc. Reports Q3 2025 Results and Announces Remexian Acquisition

- High Tide reported **record revenue of $149.7 million** for the third fiscal quarter ended July 31, 2025, an increase of **14%** year over year and **9%** sequentially.  **[1847409_20250915CA73156:2]** 
- The company achieved **record Adjusted EBITDA of $10.6 million**, up **11%** year over year and **32%** sequentially, and generated **$7.7 million in free cash flow**, a **148%** increase year over year.  **[1847409_20250915CA73156:1]** **[1847409_20250915CA73156:2]** 
- High Tide posted **positive net income of $0.8 million** in Q3 2025, a **1%** increase year over year, reversing a **$2.8 million** net loss sequentially.  **[1847409_20250915CA73156:1]** **[1847409_20250915CA73156:2]** 
- Canna Cabana's market share reached **12%** in May and June 2025, up from 11% in the previous year, with same-store sales growing **7.4%** year over year.  **[1847409_20250915CA73156:1]** **[1847409_20250915CA73156:3]** 
- The company expanded its operations by closing the acquisition of a **51% interest in Remexian Pharma GmbH**, entering the German medical cannabis market.  **[1847409_20250915CA73156:1]** **[1847409_20250915CA73156:4]**

High Tide Reports Record Revenue and Adjusted EBITDA in Q3 2025

- High Tide Inc. executives, including Founder and Chief Executive Officer Raj Grover, are scheduled to present at **four investor conferences** between **September 17 and November 10, 2025**.  **[1847409_0001279569-25-000980_ex991.htm:0]** 
- The company highlighted its strategic expansion, including the **transformational acquisition of a majority stake in Remexian**, which has established High Tide as a major player in Germany's medical cannabis market.  **[1847409_0001279569-25-000980_ex991.htm:0]** 
- In Canada, High Tide's Canna Cabana retail chain, currently the **largest cannabis retail chain** with **207 locations** and a **12% market share**, is on pace to surpass **300 stores nationwide**.  **[1847409_0001279569-25-000980_ex991.htm:0]** 
- High Tide emphasizes its loyalty-driven discount club model, which continues to drive consistent performance.  **[1847409_0001279569-25-000980_ex991.htm:0]**

High Tide (HITI)