High Tide Enters into Multiple MOUs to Supply its Saskatchewan Wholesale Operations
2018-07-30 04:20:00 PM ET (CNW Group)
High Tide Ventures Inc. ("High Tide" or the "Company") today announced that it has recently entered into multiple non-binding memorandums of understanding ("MOUs") to supply the Saskatchewan market on a wholesale basis for a combined total of up to 9,500 kilograms of cannabis products over the next year, as available. High Tide is in the process of becoming a licensed wholesaler of cannabis products in the province of Saskatchewan. The MOUs are with FV Pharma Inc. ("FV Pharma"), Maple Leaf Green World Inc. ("Maple Leaf"), Sundial Growers Inc. ("Sundial") and The Supreme Cannabis Company, Inc. ("Supreme").
"High Tide has achieved an important strategic milestone by securing its first wholesale business partners for Saskatchewan and the province's 51 retail cannabis outlets", said Raj Grover, President & Chief Executive Officer of High Tide. "Entering into these MOUs positions High Tide as significant source of both cannabis products and lifestyle accessories in a forward-thinking market," added Grover. High Tide is focused on becoming a strong downstream player in the legal recreational cannabis industry in Canada. Through its subsidiaries, the Company has also applied for over 30 retail cannabis licenses and associated development permits in Alberta, with applications in British Columbia expected to be submitted shortly.
FV Pharma is a wholly-owned subsidiary of FSD Pharma Inc. (CSE:HUGE) (OTC:FSDDF), which is a licensed producer that is working together is working together with Auxly (formerly Cannabis Wheaton Income Corp.) (TSX.V:XLY) to achieve its mission to develop the largest hydroponic indoor cannabis cultivation facility in Cobourg, Ontario, Canada. Maple Leaf (NEO:MGW) (OTCQB:MGWFF) currently operates cannabis projects in British Columbia and Nevada and applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free organic cannabis products. Sundial is a privately held, Alberta-based Health Canada ACMPR-approved licensed product of medical cannabis with a focus on producing consistent cannabis that customers can trust. The Supreme Cannabis Company (TSXV:FIRE) is a Canadian company committed to providing premium brands and products through a portfolio that includes its wholly-owned subsidiary 7ACRES, which is a federally licensed producer of medical cannab is operating inside a 342,000-square-foot facility in Kincardine, Ontario.
About High Tide Ventures Inc.
High Tide is a privately-held, Alberta-based, retail-focused cannabis corporation. It is among the most vertically-integrated players in the Canadian cannabis market, with portfolio companies including Famous Brandz, RGR Canada, Smoker's Corner and Canna Cabana. High Tide's strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.
Representing the core of High Tide's business, RGR Canada is a high-quality and innovative designer, manufacturer and distributor of lifestyle accessories. Founded in 2009 and approved by the Canadian Franchise Association, Smoker's Corner is Canada's largest counter-culture chain with 19 current locations. Famous Brandz is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies like Snoop Dogg and Paramount Pictures, respectively, which are sold to wholesalers and retailers around the world. Upon the legalization of recreational cannabis across Canada on October 17, 2018, Canna Cabana is positioned to become a large retail brand through a modern and sophisticated yet playful concept. For more information about High Tide Ventures Inc., please visit www.hightideventures.com.
