Cannabis retailer High Tide Inc. HITI HITID (FRA:2LYA) is poised to debut on the Nasdaq Capital Market.

The Calgary, Alberta-based company confirmed Friday it will begin trading on Nasdaq under the ticker symbol "HITI" on June 2.

High Tide also said it would remain listed on the TSX Venture Exchange under the symbol "HITI," while the ticker it used to trade on the quotation system OTC Markets – "HITID" – will transfer to the new ticker symbol "HITI," following its debut on Nasdaq.

"This listing makes our shares more accessible to a larger audience of both retail and institutional investors and enhances our ability to pursue larger M&A targets," said Raj Grover, president and CEO of High Tide.

He added that the Nasdaq listing "marks the beginning of a new chapter for High Tide, and I am confident that our team will continue to keep executing and driving value for our shareholders – now on a grander scale."

High Tide recently boosted its presence in the U.S. by acquiring an e-commerce marketplace for hemp-derived CBD products, Fab Nutrition, LLC – which is operating as FABCBD - ahead of securing some $15 million in financing via a bought deal of its units.

The company opted to sell its 1,562,500 units at $9.6 per unit to raise funds for the launching of new cannabis stores and the finalization of strategic acquisitions.

Photo Source: CNW Group/High Tide Inc.