Garfinkle Biderman LLP is pleased to announce that its client, High Tide Inc., has become the first major publicly traded cannabis retailer to trade on NASDAQ yesterday. According to the press release, the listing positions the company to attract larger M&A opportunities throughout North America and globally.
According to the company’s press release:
High Tide Inc. (“High Tide” or the “Company”) (TSXV:HITI) (NASDAQ:HITI) (FRA:2LYA), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, is pleased to announce that the Company’s common shares (the “Common Shares”) will commence trading today on the Nasdaq Capital Market (the “Nasdaq”) under the ticker symbol “HITI”. The Company’s Nasdaq listing is expected to increase access to investment in High Tide from retail and institutional investors around the world. Furthermore, with access to a much larger capital market, the Company expects to improve liquidity for its Common Shares and, in turn, optimize its cost of capital.
High Tide continues to retain its listing on the TSX Venture Exchange (the “TSXV”) under the symbol “HITI”. The ticker used for the Common Shares traded on the OTC Markets quotation system under the current symbol “HITID” has been seamlessly transferred to the new ticker symbol “HITI”.
Furthermore, as of today, High Tide is the first major publicly traded cannabis retailer to begin trading on the Nasdaq.
“The listing of the Common Shares on the Nasdaq represents a milestone in the retail cannabis industry and demonstrates the realization of our efforts in turning High Tide into a first-class cannabis retailer,” said Raj Grover, President and Chief Executive Officer of High Tide. “High Tide’s listing on the Nasdaq gives us access to one of the world’s largest capital markets and is in alignment with our long-term goals of enhancing shareholder value by increasing liquidity, optimizing our cost of capital, while furthering High Tide’s appeal to international and institutional investors,” added Mr. Grover.