Sichenzia Ross Ference LLP Represents High Tide Inc. in the $8.0 million acquisition of Smoke Cartel, Inc.

Press Release – New York, NY – January 25, 2021 – Sichenzia Ross Ference LLP announced today that its mergers and acquisitions team has represented High Tide Inc. (OTCQB:HITIF) in its acquisition of Smoke Cartel, Inc. (OTCQB:SMKC), one of the leading online retailers of consumption accessories, including glass water pipes and vaporizers, as well as hemp derived CBD products.

High Tide has entered into a definitive agreement pursuant to which they will acquire all of the issued and outstanding shares of Smoke Cartel for $8.0 million. The consideration for the merger was comprised of $2.0 million in cash and $6.0 million in common shares of High Tide on the basis of a deemed price share equal to the volume weighted average price per share on the TSX Venture Exchange for the 10 consecutive trading days preceding closing.

High Tide Inc. is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 69 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan.

The Sichenzia Ross Ference LLP team was led by partner Arthur Marcus, associate Jacob Tabman and law clerk Zachary Weiss.

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Sichenzia Ross Ference Carmel LLP is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry. In addition to handling routine to complex commercial matters, SRFC’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations. The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation. Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies. The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA). These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct. Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records. The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.

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Sichenzia Ross Ference LLP Represents High Tide Inc. in the $8.0 million acquisition of Smoke Cartel, Inc.

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