CALGARY, Aug. 16, 2018 /CNW/ - High Tide Ventures Inc. ("High Tide" or the "Company") today announced that it has entered into a distribution agreement for its "Famous X" line of lifestyle accessories with Evergreen, a division of Summit Distribution, LLC ("Evergreen"). The range of products being distributed under the agreement were developed by the Company's Famous Brandz entity and include but are not limited to bubblers, dugouts, grinders, hand pipes, rolling trays and water pipes. Effective immediately, shipments of the "Famous X" product line, featuring familiar brands of Cheech & Chong's Up in Smoke and the Trailer Park Boys, will start being delivered to Evergreen's regional distribution centres across the United States.
"Entering the outdoor sports and recreation channel represents an important evolution in High Tide's retail strategy and is a major achievement for Famous Brandz", said Raj Grover, President & Chief Executive Officer of High Tide. "For the fist time, Americans will be able to see and purchase our high-quality products in market-leading outdoor, sporting goods, surf and sail, and winter sports outlets, among others", added Mr. Grover. The High Tide group of companies, including Famous Brandz, offers over 4,100 lifestyle accessories, of which approximately 3,000 are designed and exclusively sold by the Company, to wholesale and retail customers around the world.
Headquartered in East Norwich, New York, Summit Distribution, LLC is a national multi-channel, value-added, sales organization and stocking distributor with a 15-year history of selling, marketing, and distributing world class products in the Outdoor Sports, Recreation, Fishing, and Shooting Sports markets. Evergreen represents a strategic partner for Famous Brandz as its customers include a wide range of independent specialty shops from coast to coast. Subject to the outcomes of this distribution agreement, High Tide expects to continue exploring further opportunities to place its smoking accessories and lifestyle products across the global retail landscape.
About High Tide Ventures Inc.
High Tide is a privately-held, Alberta-based, retail-focused cannabis corporation. It is among the most vertically-integrated companies in the Canadian cannabis market, with portfolio entities including RGR Canada, Smoker's Corner, Famous Brandz, Canna Cabana and the majority of KushBar. High Tide's strategy as a parent company is to extend and strengthen its retail-focused integrated value chain, while providing a complete customer experience and maximizing shareholder value.
Representing the core of High Tide's business, RGR Canada is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Founded in 2009 and approved by the Canadian Franchise Association, Smoker's Corner is Canada's largest counter-culture chain with 19 current locations. Famous Brandz is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies like Snoop Dogg and Paramount Pictures, respectively, which are sold to wholesalers and retailers around the world. Upon the legalization of recreational cannabis across Canada on October 17, 2018, Canna Cabana is positioned to become a sizeable retail brand through a modern concept with a sophisticated yet playful customer experience, while KushBar is a retail concept that will also be focused on the valued Canadian cannabis consumer.
Certain statements in this news 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 news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as "outlook", "expects", "intend", "forecasts", "anticipates", "plans", "projects", "estimates", "envisages, "assumes", "needs", "strategy", "goals", "objectives", or variations thereof, or stating that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan and that High Tide will receive one or multiple licenses from the Alberta Liquor and Gaming Commission, British Columbia's Liquor Distribution Branch or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana and KushBar businesses. High Tide considers these assumptions to be reasonable in the circumstances, given the time periods for such outlook. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are 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 by such forward-looking statements.
The forward‐looking statements contained herein is current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
SOURCE High Tide Ventures Inc.
For further information: Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets at High Tide Ventures Inc.; Tel: (403) 265-4207; Email: [email protected]; Web: www.hightideventures.com