High Tide Announces New Private Label Partnerships with Heritage Cannabis and Loosh Brands
As per the terms agreed upon, Heritage Cannabis (CSE: CANN) (OTCQX: HERTF) and Loosh will be responsible for the manufacturing of shatter and THC gummies, respectively. Both the products fall under the brand Cabana Cannabis Co. which High Tide owns.
About High Tide Inc.
Also known as simply High Tide, the cannabis company undertakes the processes of manufacturing and distributing the products in the market. Based on its recent adjusted EBITDA, short for Earnings Before Interest, Taxes, Depreciation, And Amortization, the company is the most profitable cannabis retailer in Canada.
High Tide functions with an objective to extend and strengthen its integrated value chain. With this objective in mind, the company ultimately looks to serve its customers better and increase the wealth of its shareholders.
The company takes its focus on the retail segment very seriously. Its three retail brands are Canna Cabana, Meta Cannabis Co, and Meta Cannabis Supply Co. All the three bands have marked their presence in 93 locations across Ontario, Alberta, Manitoba, and Saskatchewan.
It has also marked its presence on the internet. It has set up six e-commerce platforms. These platforms are Grasscity.com, Dailyhighclub.com, Smokecartel.com, Dankstop.com, CBDcity.com, and FABCBD.com.
The wholesale distribution of High Tide is under the brand called Valiant Distribution.
About Heritage Cannabis
Known for taking the first step in the market, Heritage Cannabis has made its name brilliantly. The company was first to introduce Dabs and Live Resin to the Canadian markets. It focuses on selling concentrates in Canada and is currently ranked among the top three Canadian sellers.
Heritage functions on a customer-centric approach. The company keeps two points in mind. One is to delight the customers, and the other point is to introduce a product that its customers want.
About Loosh Brands
The young licenced cannabis producer is a privately held company. It has been termed as the future top player of the market. Since its inception, Loosh has focused on establishing highly strategic production and sensory testing facilities in midtown Toronto.
Loosh works on a simple function, according to which it supports the brands, formats, and retailers that are best or have the potential to be the best in the industry.
About The Partnership
Both the products fall under the brand Cabana Cannabis Co which is owned by High Tide.
The products manufactured per the partnership terms agreed upon will be distributed in Ontario, Saskatchewan, Manitoba, and Alberta. High Tide looks to expand its Canadian jurisdiction in the near future.
Raj Grover, the President and Chief Executive Officer of High Tide, expressed his excitement upon signing the White Label Partnership with Heritage and Loosh. He said that the company had taken a measured approach while moving into a less crowded 2.0 category.
He added that the company would look to expand its base in the Canadian market depending on how the market evolves. The company would also attempt to bring a few products from the FABCBD catalog to the market.
David Schwede, the Chief Executive Officer and President of Recreational Cannabis at Heritage said that he was proud to partner with High Tide as the partnership allowed the company to strengthen and expand its portfolio of concentrates.
He added that he admired the focus of High Tide in educating the customers and looked forward to furthering the partnership.
Ilya Serebyrany, the Founder and Chief Executive Officer of Loosh, was pleased to support High Tide in executing its increased manufacturing requirements. He added that the White Label Partnership exemplified the distribution channels and commercial relationships that the company had been providing in the industry.