High Tide Inc. (TSXV:HITI) agreed to acquire a 80% stake in Blessed CBD for £9.1 million on October 7, 2021. The consideration will be paid by £4.2 Million in cash and £4.9 Million in 1,136,551 common shares of High Tide. In addition to the foregoing, Blessed's founder has agreed to grant High Tide an option to acquire all the remaining shares in Blessed not held by High Tide and become the sole shareholder of Blessed. The Option will be exercisable at any time for a period of three years following the Closing. The cash portion of the transaction will be funded entirely with cash on hand. Blessed generated revenue of £5.1 Million and £2.8 Million in EBITDA for the 12 months ended August 2021. Blessed's founder and Chief Executive Officer, Vithurs Thiru, will join the High Tide team as Senior Manager of Search of the Company. The transaction is subject to receipt of required TSX Venture Exchange ("TSXV") approval and other customary conditions of closing and is expected to close during October 2021.

KPMG LLP (Canada) acted as due diligence provider to High Tide Inc. Garfinkle, Biderman LLP acted as legal advisor to High Tide Inc. Ince Gordon Dadds LLP acted as legal advisor to High Tide Inc. Carlsquare GmbH acted as financial advisor to Blessed CBD. Addleshaw Goddard LLP acted as legal advisor to Blessed CBD.

High Tide Inc. (TSXV:HITI) completed the acquisition of a 80% stake in Blessed CBD on October 19, 2021. High Tide Inc issued initially 607,064 shares and 529,487 shares were placed in escrow. Cash and cash equivalent amount in Blessed CBD was $2.1million (£1.6 million).