Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2024

Commission File Number: 001-40258

HIGH TIDE INC.

(Registrant)

11127 - 15 Street N.E., Unit 112

Calgary, Alberta

Canada T3K 2M4

(Address of Principal Executive Offices)

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☐            Form 40-F  ☒

 

 

 

 

 

 

INCORPORATION BY REFERENCE

 

Exhibit 99.1 is hereby incorporated by reference into the Registrant’s Registration Statement on Form F-10 (File No. 333-273356) and shall be deemed to be a part thereof from the date hereof, to the extent not superseded by documents or reports subsequently filed or furnished.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

				HIGH TIDE INC.
				(Registrant)
Date: December 10, 2024				By		/s/ Raj Grover
						Raj Grover
						President and Chief Executive Officer

 

 

EXHIBIT INDEX

Exhibit		Description of Exhibit
99.1		High Tide Inc. - Material Change Report

  Exhibit 99.1

 

  

FORM 51-102F3
MATERIAL CHANGE REPORT

 

Item 1: Name and Address of Company

 

High Tide Inc. (the “Company” or “High Tide”)
Unit 112, 11127 - 15 Street N.E.

Calgary, Alberta T3K 2M4

 

Item 2: Date of Material Change

December 2, 2024

 

Item 3: News Release

 

A news release was issued and disseminated via CNW Group Ltd. d/b/a Canada Newswire on December 2, 2024, a copy of which was filed under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Item 4: Summary of Material Change

High Tide announced on December 2 that it is expanding its Cabana Club membership program across the US, EU, and UK, and adding international snacks and confectionary items to its e-commerce offerings. The Company anticipates breaking even on revenue and EBITDA within approximately six and twelve months respectively.

Item 5.1: Full Description of Material Change

On December 2, High Tide announced that it is expanding its Cabana Club membership program across the entirety of the United States (US) through cabanaclubusa.com, as well as the European Union (EU) and the United Kingdom (UK) through cabanaclub.eu. The Company is also adding international snacks and confectionary to its e-commerce offerings which already include hemp-derived CBD products, consumption accessories and related merchandise. The new global Cabana Club interface will provide members with a single point of login to access instant savings with the lowest price guaranteed.  In the US, members will be able to purchase hemp-derived CBD, consumption accessories as well as international snacks and confectionary items from Smoke Cartel, Daily High Club, DankStop, NuLeaf, and FABCBD.  Members across the entire EU and UK will now have access to these same products through Grasscity and Blessed CBD. Members will also be able to access an exclusive page featuring additional Cabana Club and third-party coupons. The discounting on merchandise will be partially offset through the sale of additional ELITE memberships. For the first year, those signing onto ELITE in the US, EU and UK will be able to do so for just $15, #eu#15, and £15, respectively. This represents a 50% discount on international ELITE memberships. These new ELITE members will also enjoy access to free shipping and hassle-free returns, including access to ELITE-only merchandise and even steeper discounts. Given its track record in Canadian bricks-and-mortar sales, the Company anticipates its US and European e-commerce platforms to experience a similar growth trajectory and anticipates breaking even on revenue and EBITDA within approximately six and twelve months respectively.

Item 5.2: Disclosure for Restructuring Transactions

 

Not applicable.

 

Item 6: Reliance on subsection 7.1(2) of National Instrument 51-102 (Confidentiality)

 

Not applicable.

 

Item 7: Omitted Information

 

No information has been omitted on the basis that it is confidential information.

 

Item 8: Executive Officer

 

For additional information with respect to this material change, the following person may be contacted:

Raj Grover

President, Chief Executive Officer, and Director
T: 403-770-9435

Email: [e-mail]

 

Item 9: Date of Report

December 10, 2024

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