High Tide Welcomes Passage of First Pillar of Germany’s Cannabis Legalization Plan
CALGARY, AB, Feb. 23, 2024 /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company“) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, welcomed today’s vote in the German parliament to approve a bill making Germany the second G7 country to allow the consumption and private cultivation of cannabis for recreational purposes by adults. Today’s vote sets the stage for Germany to begin implementing “pillar 1” of its legalization plan, which will see possession and cultivation for personal use permitted by April 1, 2024, and not-for-profit social clubs begin operation as of July 1st, 2024. The German government has indicated that it will now begin work on a draft law related to “pillar 2” of its legalization plan, focusing on regional adult use pilot projects supported by commercial supply chains and for-profit cannabis specialty stores.