#Canada #High Tide #Canna Cabana #Ontario #Northern Helm

High Tide Expands Footprint with Northern Helm Acquisition

High Tide Inc. (Nasdaq: HITI), a prominent player in the cannabis retail sector, has recently made headlines with its strategic acquisition of Northern Helm. Under this deal, High Tide will gain ownership of four established retail cannabis stores located in key areas of Ontario. This acquisition is not only significant for High Tide but also highlights the dynamic growth trajectory of the cannabis market in Canada.

Details of the Acquisition

On June 15, 2026, High Tide announced it had entered into a definitive agreement to acquire a 100% equity interest in J. Supply Holdings Inc., trading as Northern Helm. This deal involves High Tide acquiring four of Northern Helm's six retail cannabis outlets for a total of $7.74 million. The new stores are situated in:

• - Bowmanville: 2377 Highway 2
• - Kingston: 225 Gore Road
• - Courtice: 1414 King St. E
• - Oshawa: 199 Wentworth St. W

With this addition, High Tide’s store count will increase to 228 Canna Cabana locations across Canada, including 103 in Ontario alone, a milestone that demonstrates its commitment to expanding its retail footprint.

Strategic Vision for Growth

Raj Grover, Founder and CEO of High Tide, articulated that this acquisition embodies the company’s vision of continuing to create shareholder value by acquiring high-performing assets and integrating them into its established operations. Surpassing the 100 stores mark in Ontario is deemed a pivotal accomplishment, as High Tide aims for a long-term ambition of developing a network that exceeds 350 stores, unrivaled in both scale and efficiency within the cannabis industry.

High Tide’s strategic approach goes beyond mere retail expansion. With a successful medical cannabis division, High Tide is diversifying its operations, ensuring that it is much more than just a retail entity. The company is witnessing significant growth across both its retail and medical cannabis platforms, providing multiple avenues for expansion and a robust foundation for sustainable growth. Grover expressed optimism about the company's prospects, stating that they are well-positioned to amplify their competitive edge and enhance shareholder value.

Transaction Insights

The acquisition, categorized as an arm's length transaction, requires the receipt of various regulatory approvals from the TSX Venture Exchange (TSXV) and Ontario’s Alcohol and Gaming Commission (AGCO), among other customary closing conditions. The total consideration for Northern Helm includes approximately $3.2 million in assumed debt and will be partially compensated with cash, while the remaining amount will be settled with High Tide common shares.

This strategic move to enhance High Tide’s store count and market presence reaffirms its position as a leading community-driven, retail-focused cannabis enterprise. The transaction's financial structure, which leverages both cash and equity, is designed to optimize High Tide's balance sheet while ensuring the transaction is favorable considering the projected profits from the acquired stores, evaluated at 4.5x the annualized Adjusted EBITDA.

Conclusion

High Tide's acquisition of Northern Helm not only signifies a milestone in store expansion but also reflects its commitment to providing value through strategic growth initiatives. As the cannabis retail market continues to evolve, High Tide stands poised to capitalize on industry trends, driven by robust operational capabilities and an adaptive business model. Investors and customers alike can look forward to the opportunities this acquisition will usher in as High Tide expands its influence within Canada's booming cannabis landscape.