HITI · High Tide Inc.

This 6-K filing discloses a material, investor-critical development: High Tide has identified anomalous trading patterns in its common shares — specifically, consistent post-earnings price declines despite positive after-hours market reactions across more than ten consecutive quarters — and has formed a reasonable belief that such activity may constitute market manipulation in violation of Canadian and U.S. securities laws. The Company is initiating a formal, proactive investigation led by external forensic and market surveillance experts, with explicit focus on trading behavior around earnings releases and other material disclosures. This is not speculative commentary; it is a deliberate, board- and management-endorsed escalation indicating the Company perceives credible evidence warranting regulatory referral. The decision to publicly disclose this intention signals both transparency and urgency, and carries significant implications for investor confidence, regulatory scrutiny risk, and potential future enforcement actions. While no findings or outcomes are reported yet, the stated intent to share results and evidence with securities regulators in both jurisdictions elevates the matter beyond internal monitoring into the realm of formal oversight. Shareholders are explicitly invited to submit relevant information, reinforcing the seriousness with which the Company treats the issue. Given the direct linkage to market integrity, share price reliability, and regulatory exposure, this represents a HIGH materiality event requiring close monitoring of subsequent disclosures, regulatory responses, and any impact on liquidity or listing status.