High Tide Resources Corp. announced that it has entered into a non-brokered private placement transaction of common share units at a price of CAD 0.10 per HD unit, national flow-through units at a price of CAD 0.12 per National FT unit, and Quebec flow-through units at a price of CAD 0.13 per Quebec FT unit for aggregate gross proceeds of up to CAD 1,000,000 on November 7, 2022. The company has reserved the right to increase the size of the transaction by up to 25% of the size of the transaction, subject to the approval of the Canadian Securities Exchange.

Each HD unit will be comprised of one common share in the capital of the company issued on a non-flow-through basis and one half of one common share purchase warrant. Each National FT unit will be comprised of one common share qualifying as a flow-through share and one half of one warrant. Each Quebec FT unit will be comprised of one common share qualifying as a flow-through share and one half of one warrant.

Each warrant will entitle the holder thereof to acquire one common share at a price of CAD 0.16 per warrant share for a period of sixty months following the closing date of the transaction. It is expected that the closing of the transaction will close on or about December 7, 2022. The transaction is subject to the receipt of all required regulatory approval, including acceptance of the Exchange.

All securities issued in connection with the transaction will be subject to a hold period of four months and one day from the closing date, in accordance with applicable canadian securities laws. In connection with the transaction, the company may pay finders' fees in cash or securities, or a combination of both, as permitted by the policies of the Exchange.