Press Release: High Tide Unites Wholesale Businesses Under Valiant Distribution and Appoints Vahan Ajamian as Vice President, Capital Markets
BY Dow Jones & Company, Inc. 11/03/2020
High Tide Inc. ( HITIF ) ("High Tide" or the "Company") (CSE: HITI) (FRA: 2LY), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of cannabis lifestyle accessories, is pleased to announce that, effective November 1, 2020, the Company has combined its wholesale businesses, RGR Canada and Famous Brandz, under the Valiant Distribution ("Valiant") brand in Canada and the United States. Valiant will continue developing licensed accessories in collaboration with celebrity and studio brands under the Famous Brandz banner while also delivering the Company's best-selling proprietary brands to market.
The development of the Valiant brand and streamlining of High Tide's wholesale segment began last year, subsequent to the Company establishing a warehouse in Las Vegas, Nevada for the distribution of cannabis accessories. "Uniting these businesses is the next step in High Tide's strategy for expanding the wholesale footprint of our brands internationally. By streamlining our wholesale channel, we can leverage our supply chain to maximize relationships with vendors and our network of retail partners across Canada, the United States and Europe," said Raj Grover, President & CEO of High Tide. "Valiant is well positioned in Nevada to continue expanding across the United States and we also expect to begin serving wholesale accounts through High Tide's Amsterdam-based warehouse in the near term," added Mr. Grover.
Representing the wholesale core of High Tide's business since 2013, RGR Canada has grown to become a high-quality and innovative designer and distributor of proprietary cannabis accessories featuring best-selling brands like Dopezilla, Famous Design, Puff Puff Pass and Vodka Glass. Founded in 2016, Famous Brandz is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including but not limited to Snoop Dogg, Paramount Pictures, Lions Gate, and Guns N' Roses. RGR Canada's and Famous Brandz' products will continue to be sold to wholesalers and retailers around the world by Valiant.
Separately, the Company is pleased to appoint Vahan Ajamian to the position of Vice President, Capital Markets. Mr. Ajamian joins High Tide after nearly 20 years of financial experience featuring five years of industry experience as one of the first analysts to cover the sector for Beacon Securities. His expert opinions have been frequently quoted by media outlets like CBC, Marijuana Business Daily and BNNBloomberg. Vahan was also named one of the "Rising Stars" in the cannabis investment community by Business Insider for his equity research and analysis. "I am extremely pleased to welcome Vahan to our team, solidifying our capital markets strategy and reach through his wealth of experience in the sector. Vahan's appointment will strengthen communication with the investor community as we continue to expand internationally," said Mr. Grover.
"Over the last decade, High Tide has demonstrated the ability to execute on its goals, positioning itself as a leader in the cannabis industry. I am very excited to join the leadership team as we continue to set and achieve new milestones," added Mr. Ajamian.
About High Tide
High Tide is a retail-focused cannabis corporation enhanced by the manufacturing and distribution of cannabis lifestyle accessories. Its premier Canadian retail brand Canna Cabana spans 34 locations in Ontario, Alberta, and Saskatchewan, with additional locations under development across Canada. High Tide has been serving cannabis consumers for over a decade through its numerous lifestyle accessory enterprises including e-commerce platforms Grasscity.com and CBDcity.com, lifestyle and licensed entertainment brand manufacturer Famous Brandz, and its distribution divisions RGR Canada and Valiant Distribution.
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. Key industry investors in High Tide include Aphria Inc. and Aurora Cannabis Inc.
