The company’s U.S. subsidiary, NuLeaf Naturals, is also launching a new discount program to subscribe and save.
CALGARY, Alta., May 25, 2022 /PRNewswire/ – High Tide Inc. (“High tide“or the”Company“) (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with physical assets and global e-commerce, today announced that its subsidiary, Blessed CBD, has launched a CBD Subscribe-and-Save program in the UK called the health club. As part of the Wellness Club program, members will be able to customize their orders each month with items from all of Blessed CBD’s product lines, including oils, gummies, capsules and topicals. Members will also be able to customize their own delivery schedules within a range of every two weeks to every twelve weeks, allowing delivery frequencies to optimally match each member’s needs. Additionally, by joining the Wellness Club, members will receive a 20% discount on their first purchase and a 25% discount thereafter for life on all Blessed CBD products, meaning members will be able to access the most discounted discounts. greatest Blessed CBD has ever achieved. Free. Members will also be able to participate in exclusive monthly raffles where winners will receive free CBD products.
As well as improving convenience and savings for members, the launch of the Wellness Club will further strengthen customer loyalty and brand equity for Blessed in the UK. Since Wellness Club members will be enrolled in a service that automatically renews their orders, Blessed CBD expects to increase its lifetime value per customer beyond current levels. The Wellness Club will also allow Blessed CBD to develop a recurring revenue stream that will be much more predictable than the current system where customers are required to manually place orders. Although the Wellness Club was initially only available in the UKBlessed CBD intends to expand the program to Germany in the future.
“The launch of Blessed CBD’s wellness club, along with NuLeaf Naturals’ revamped subscription and savings program, are further examples of the cross-platform synergies High Tide has been able to develop through our acquisition strategy. Over the past year, we have acquired businesses well positioned to cultivate recurring and predictable revenue streams through the innovative use of value-based loyalty and subscription programs,” said Raj Grover, President and CEO of High Tide “As we continue to build on our diverse cannabis ecosystem, I expect we will be able to generate additional revenue growth at a cost in minimal capital by leveraging our organic innovations and applying them across our various platforms. Today’s announcement also demonstrates our commitment to growing our presence, customer base and revenue through legal business in markets such as the UK and US, where full legalization of cannabis is not an option. has not yet been carried out. We look forward to launching other biological innovations in our portfolio,” added Mr. Grover.
NULEAF NATURALS LAUNCHES REVAMPED SUBSCRIPTION AND SAVINGS PROGRAM
The Company also announced today that its United StatesThe NuLeaf Naturals-based subsidiary, has launched a revamped subscription and savings program, based on the success of the namesake and designed subscription program launched by its US subsidiary, FAB CBD, in March 2022. As part of Under this program, customers will be able to customize their orders each month based on their specific needs, with items from all NuLeaf Naturals product lines, including oils, capsules, topicals and pet treats. Customers will also have the ability to customize their delivery frequency for each individual product in their order, allowing delivery frequencies to optimally meet each customer’s needs for each product. Additionally, by enrolling in the Subscribe & Save discount program, customers will receive a lifetime 20% discount on all NuLeaf Naturals products they purchase, similar to what is currently offered by FAB CBD. in the American market.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with global physical and e-commerce assets. The company is Canada’s largest non-franchise recreational cannabis retailer by revenue, with 122 current locations spanning Ontario, alberta, Manitobaand Saskatchewan. High Tide featured in Report on Business magazine’s third annual ranking from Canada Top Growing Companies in 2021 and was named among the 10 Best Performing Stocks in Diversified Industries in the 2022 TSX Venture 50™. The Company is also North America first and only cannabis discount club retailer, with Canna Cabana, Meta Cannabis Co. and Meta Cannabis Supply Co. banners, with additional locations under development across the country. High Tide’s portfolio also includes retail kiosk and smart locker technology – Fastendr™. High Tide has been serving consumers for over a decade through its established e-commerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com and Dankstop.com and more recently in the hemp-derived CBD space through Nuleafnaturals.com, FABCBD.com, BlessedCBD.co.uk and BlessedCBD.de, as well as its wholesale distribution division under Valiant Distribution, including licensed entertainment manufacturer Famous Brandz. High Tide’s strategy as a parent company is to expand and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For more information on High Tide Inc., please visit www.hightideinc.com, its profile page on SEDAR at www.sedar.com and its profile page on EDGAR at www.sec.gov.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as “forward-looking statements”, are made as of the date of this press release or the effective date of the information described in this press release, as the case may be. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions or future events or performance (generally, forward-looking statements can be identified by the use of words such as “outlooks”, “expects”, “expects”, “anticipates”, “anticipates”, “plans”, “projects”, “estimates”, “considers”, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or indicating that certain actions, events or results “may”, “may”, “could”, “will”, “could” or “will ” undertaken, will occur or be achieved, or the negative of any of these similar terms or expressions, and any other similar terminology) are not statements of historical fact and may be forward-looking statements. The forward-looking statements contained in this press release include statements relating es to: services, including the Company’s expectation that the subscription service will drive lifetime value per customer and enable the Company to cultivate a more predictable recurring revenue stream, Mr. Grover’s statements regarding the company’s further revenue growth by leveraging its diverse cannabis ecosystem through organic innovations and without additional capital cost, the company’s strategy as a parent company to expand and strengthen its integrated value chain , while providing a complete customer experience and maximizing shareholder value.
These forward-looking statements are based on assumptions that may prove to be incorrect, including, but not limited to, customer demand for Blessed CBD and NuLeaf Naturals subscription services, the Company’s ability to further grow the company’s revenues by leveraging its diverse cannabis ecosystem with no added capital cost, or none at all, the company’s ability to expand and strengthen its integrated value chain while delivering a comprehensive customer experience and maximizing the shareholder value, the company’s ability to execute its business plan and whether High Tide will receive one or more Alberta Gaming, Alcohol and Cannabis licenses, from British Columbia Liquor Distribution Branch, Liquor, Gaming and Cannabis Board of Manitobaliquor and gaming commission Ontario or the Saskatchewan Liquor and Gaming Authority enabling it to operate Canna Cabana Inc. High Tide considers these assumptions to be reasonable under the circumstances. However, there can be no assurance that one or more of the governmental, industry, commercial, operational or financial objectives set forth herein will be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied. -understood by these forward-looking statements. .
The forward-looking statements contained herein speak only as of the date of this press release. Except as required by law, High Tide has no obligation to notify anyone if it becomes aware of any inaccuracy or omission in any forward-looking statement, nor does it intend or assume any obligation to update or revise these forward-looking statements. – forward-looking statements to reflect new events or circumstances. All forward-looking statements included in this press release are expressly qualified by this cautionary statement and, unless otherwise stated, are made as of the date of this press release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of The United States of America. The Securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities law and may not be offered or sold in United States or to US Persons (as defined in the 1933 Act) unless they are registered under the 1933 Act and applicable state securities laws, or an exemption from such registration be available.
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SOURCE High Tide Inc.