#Canada #High Tide #Canna Cabana #Calgary #Davidson Company

High Tide Inc. Changes its Auditor

In a recent announcement, High Tide Inc. revealed a significant shift in its financial governance. As of April 17, 2025, the company has appointed Davidson Company LLP to take the place of Ernst & Young LLP as its new auditor. This change comes upon the request of High Tide, and the decision follows a recommendation from the company’s audit committee, which effectively fills the vacancy left by the resignation of its predecessor auditor.

The Transition Process

The board of directors at High Tide has acted promptly in ensuring that there is no lapse in continuity in their financial oversight. The transition is crucial as High Tide, a recognized leader in the retail cannabis sector, continues to expand its operations and improve its corporate governance practices.

The newly appointed auditor, Davidson Company, brings a wealth of expertise in navigating the complexities of financial oversight in industries like cannabis, which is rapidly evolving and facing numerous regulatory challenges. High Tide's management expressed their assurance in Davidson Company’s capacity to provide the necessary oversight as they move toward their future growth objectives.

A Look at High Tide

High Tide, often termed as a high-impact cannabis enterprise, continues to solidify its status in the retail market, being ranked as the second-largest cannabis retailer globally by store count. The company has engineered its operations to offer various components of the cannabis experience, which includes:

• - Bricks & Mortar Retail Stores: Under the Canna Cabana brand, High Tide operates the largest cannabis retail chain in Canada, boasting 196 locations across multiple provinces, including Ontario and Alberta. This reach is pivotal in cementing its stature in the market, particularly since Canna Cabana was also one of the pioneers to launch a cannabis discount club model in the industry.
• - Retail Innovation Technology: Through its Fastendr technology, High Tide has embraced the future of retail, employing automated kiosks that optimize the customer purchasing experience.
• - Diverse Product Range: The company operates several leading e-commerce platforms for cannabis accessories, including Grasscity and Smokecartel, catering to a wide consumer demographic.
• - Brand Diversity: High Tide boasts a broad spectrum of recognized brands such as Queen of Bud™ and Puff Puff Pass™, ensuring that they cater to varied consumer preferences.
• - CBD Development: The company is also committed to exploring CBD market opportunities via platforms such as Nuleafnaturals.com, pushing the boundaries of consumer product offerings.
• - Wholesale Distribution: Through Valiant™, High Tide is fostering growth in the wholesale supply of cannabis products, thus enhancing its market footprint.

Regulatory Compliance and Future Outlook

Regarding compliance, High Tide has already taken steps to meet regulations set forth in the National Instrument 51-102, ensuring a smooth transition process for its audit change. Notably, it is worth mentioning that there were no reservations or modifications in any auditor's reports from the predecessor auditor; this indicates a healthy financial standing leading up to this change.

As High Tide continues to innovate and expand its offerings in the cannabis market, the firm remains steadfast in its commitment to operational excellence and shareholder value. This new chapter with Davidson Company as its auditor underscores High Tide's strategic approach to robust corporate governance at a time when the cannabis sector is under the spotlight for growth and compliance.

You can stay updated on High Tide's journey by exploring their official website High Tide Inc.. With their sharp focus on leveraging cannabis for everyday enjoyment, High Tide is primed for a future filled with promise in an ever-expanding industry.