Sunday, June 1, 2025

Latest

High Tide To Acquire Daily High Club For US$10 Million

High Tide Inc. (TSXV: HITI), is expanding its presence in the US market. The company this morning announced that it will be acquiring Daily High Club, an e-commerce platform focused on consumption accessories.

The acquisition comes as High Tide works to bolster its presence in the US, where it plans on expanding its cannabis retail network in the event of federal legalization. Although operating in the hemp-derived CBD and consumption accessory space at present, DHC marks a strategic purchase for High Tide, with the company currently having over 15,000 subscription box members. The firm expects to be able to transition a sizable portion of these subscribers to a potential cannabis subscription box upon legalization.

The transaction is said to be at arms length and immediately accretive, as DHC generated US$9.4 million in net revenue, and US$1.2 million in EBITDA during the 12 months period ended April 2021. On a pro-forma basis, the company as a result has stated that its revenue run rate in the United States is now over CAD$50 million.

Consideration for Daily High Club is said to amount to US$10 million in aggregate. This figure is set to consist of both cash and shares, with a total of US$6.75 million to be paid in the form of common shares and $3.25 million to be paid in cash.

The transaction is slated to close by the end of June.

High Tide Inc. last traded on the TSX Venture at $9.92.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

High Tide Files To List On The Nasdaq

High Tide Inc (TSXV: HITI) is looking towards the US big boards. The company this...

Wednesday, December 9, 2020, 07:40:10 AM

High Tide Plans To Enter UK Market With £9.1 Million Blessed CBD Acquisition Deal

High Tide Inc. (TSXV: HITI) announced last week that it has entered into a definitive...

Monday, October 11, 2021, 05:52:00 PM

High Tide Acquires Ontario Canna Cabana Retail Location

High Tide Inc (CSE: HITI) this morning became one of the first public firms to...

Monday, January 27, 2020, 09:19:47 AM

High Tide Acquires 50% Of Second Ontario Retail Location

High Tide Inc (CSE: HITI) appears to be focused heavily on the Ontario market, with...

Tuesday, January 28, 2020, 08:52:41 AM

High Tide Releases Preliminary Financials For Fiscal 2021: $181.1 Million In Revenue, Net Loss

High Tide Inc. (TSXV: HITI) shared on Thursday its preliminary unaudited financial statements for fiscal...

Friday, January 28, 2022, 11:38:00 AM