High Tide recaps 2022 highlights

High Tide reflects on its key milestones for 2022. High Tide’s 2022 Highlights: Total revenue for the nine months ended July 31, 2022, increased to C$248.6M from C$127.3M for the nine months ended July 31, 2021. Concurrent with the release of the Company’s fiscal third quarter results, it disclosed that annualizing the revenue generated in the month of August 2022 results in a current revenue run rate exceeding C$400M. Generated same-store sales increases of 46% during the three months ended July 31, 2022, compared to the same quarter in the prior year and 18% compared to the prior quarter. Delivered rapid growth in its unique Cabana Club loyalty program, which is the largest bricks-and-mortar cannabis loyalty program in Canada with over 900,000 members. Launched Cabana Elite, the first-of-its-kind cannabis paid membership loyalty program in Canada. Entered the British Columbia market, with six stores operating at the end of 2022. The Company also anticipates the organic opening of its location in Kamloops, BC, imminently. Added 45 new Canadian stores, both organically and through accretive acquisitions, closing the year at 150 stores across Ontario, Manitoba, Saskatchewan, Alberta and British Columbia. Closed a $19M senior secured credit facility with connectFirst Credit Union Ltd., with an initial 5-year term, at connectFirst’s floor interest rate. Rolled out 175 proprietary Fastendr Kiosks across 120 Canna Cabana stores. Launched its Cabana Cannabis Co. white-label offerings in the Canadian provinces of Ontario, Manitoba and Saskatchewan. Entered a new lucrative vertical in the United States with the launch of cannabis seed sales through its subsidiaries GrassCity and Smoke Cartel. Increased international customer database to over 3 million, including approximately 2.4 million customers in the United States through its ancillary cannabis e-commerce platforms. Increased its total employment footprint from just over 900 to over 1,400 during 2022 in order to manage growth.