High Tide Inc (HITI)

[MIMadman]

High Tide Appoints Retail Industry Veteran Andrea Elliott As Independent Director
CNW Group - Mon Jan 4, 5:00AM CST

CALGARY, AB , Jan. 4, 2021 /CNW/ - High Tide Inc. (" High Tide " or the " Company ") (TSXV:HITI.VN) (OTCQB:HITIF) (FRA:2LY), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, is pleased to announce the appointment of Andrea Elliott as an independent director of the Board effective January 4, 2021 . Ms. Elliott brings over 20 years of executive retail experience to High Tide. She currently is Executive Vice President, Direct to Consumer at Moose Knuckles – a successful global Canadian luxury outerwear brand.

Previously, Andrea founded r2 retail resources, an independent consultancy that supported domestic and international retailers with strategic initiatives, growth plans, e-commerce ideation and SG&A improvements. Ms. Elliott was previously VP & General Manager of PVH Canada Retail ( Calvin Klein , Van Heusen , IZOD & Bass), an EVP at PwC and COO with Karabus Management – a wholly-owned subsidiary of PwC focused on the retail industry. Prior to PwC, Andrea was the Director of Canada Operations for Williams-Sonoma Inc. and held various senior positions at Gap Inc in the International division.

"We are delighted to have Andrea join the Board and increase the retail expertise, independence and diversity of our organization," said Raj Grover, President and Chief Executive Officer of High Tide. "As we grow our national cannabis store footprint and our international e-commerce businesses, Andrea's extensive retail background will be invaluable as we implement strategic initiatives to further differentiate High Tide from the competition," added Mr. Grover.

With the addition of Ms. Elliott, High Tide has also strengthened its real estate competency at the Board level. "I'm excited to join the Board of High Tide and contribute to the evolution of this great company as it broadens its focus beyond Canada to new opportunities in the United States and abroad," said Andrea Elliott . "I view this as a mutually beneficial opportunity and appreciate the warm welcome to High Tide's Board," added Ms. Elliott. The Company looks forward to Andrea's guidance as it continues to execute on its growth strategy.

Ms. Elliott replaces Mike Cosic who resigned as a member of the Board effective January 4, 2021 . Mr. Cosic became a director of High Tide concurrent with the acquisition of Meta Growth Corp. ("META") on November 18, 2020 and played an important role in facilitating the transition. Mr. Cosic graciously resigned to allow the Board to attract Ms. Elliott and High Tide thanks Mr. Cosic for his contributions.

The Board has approved the grant of 1,000,000 stock options for Ms. Elliott to purchase common shares of High Tide. The options have an exercise price of $0.255 per common share and have a term of 3 years. Subject to the terms and conditions of the Company's Stock Option Plan, the options shall vest as per their previously announced schedule.

Furthermore, the Company issued an aggregate of 833,332 common shares of High Tide (" Interest Shares ") to certain holders of unsecured convertible debentures of the Company, in satisfaction of the annual amount of interest due to the holders. The Interest Shares were issued at a deemed price of $0.24 per Interest Share. The Interest Shares are subject to a statutory hold period of four months plus one day and remain subject to final approval from the TSX Venture Exchange.

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