High Tide Pauses Acquisition of Purecan GmbH and Explores Alternative Arrangements with Purecan to Enter the German Medical Cannabis Market

Core Insights - High Tide Inc. intends to enter the German medical cannabis market by acquiring a 51% interest in Purecan GmbH for approximately €4.8 million, but is currently exploring alternative arrangements for this transaction [1] - The company remains committed to the German market and is considering both alternative structures with Purecan and other entry opportunities [1] Company Overview - High Tide is a leading retail-forward cannabis enterprise and the second-largest cannabis retailer globally by store count, with a focus on delivering value across all components of cannabis [2] - The company operates Canna Cabana™, the largest cannabis retail chain in Canada, with 192 locations across several provinces [2] - High Tide has developed innovative retail solutions such as Fastendr™, an automated technology for a better buying experience [3] Product and Brand Portfolio - High Tide offers a wide range of consumption accessories through various e-commerce platforms, including Grasscity.com and Smokecartel.com [3] - The company has a diverse brand roster that includes Queen of Bud™, Cabana Cannabis Co™, and Daily High Club™, among others [4] - High Tide is also involved in the CBD market through platforms like Nuleafnaturals.com and FABCBD.com [5] Recognition and Growth - High Tide has been recognized as one of Canada's Top Growing Companies for four consecutive years and ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023 [6]