The Number of Canna Cabana Stores Selling Recreational Cannabis is Expected to Reach 21 Branded Locations across Canada in the Near Future
CALGARY , July 10, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (HITI.CN) (HITIF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that the Canna Cabana retail stores located at Unit #4, 16952 111 Avenue NW in Edmonton and at Bay #130, 100 Stockton Avenue in Okotoks (collectively, the “New Alberta Stores”) both received their first deliveries of cannabis products from Alberta Gaming, Liquor and Cannabis (“AGLC”) and began selling recreational cannabis for adult use on July 9 , 2019. The New Alberta Stores bring the total number of Canna Cabana retail locations currently selling recreational cannabis to 7 across the province, for a total of 11 branded locations across Canada .
High Tide Inc. (CNW Group/High Tide Inc.)
The Company expects its next 10 Canna Cabana stores, including one franchise, to be licensed as retail cannabis stores throughout the summer, which will bring its total number of retail cannabis stores to 17 branded locations across Alberta barring any changes to the current rate of licensing by AGLC. “We are extremely proud of establishing 7 retail cannabis stores organically across Alberta in such a short period of time,” said Raj Grover, President and Chief Executive Officer of High Tide. “As one of the top retailers of recreational cannabis in Canada , customers continue to validate the Canna Cabana concept and support our next locations as they open,” added Mr. Grover. The remaining 19 locations to reach the effective maximum of 37 retail cannabis stores in Alberta are currently under various stages of development and construction.
Outside of Alberta , High Tide currently has a Canna Cabana retail cannabis store in Swift Current, Saskatchewan , along with three branded locations in Hamilton , Sudbury and Toronto, Ontario . High Tide is also progressing toward closing the previously announced acquisition of a second location in Saskatchewan , establishing a retail cannabis store in Niverville, Manitoba after winning the opportunity to do so by provincial draw in May and opening the maximum number of eight locations in British Columbia.
About High Tide Inc.
High Tide is an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (APHA.TO) (APHA), Aurora Cannabis Inc. (ACB) (ACB.TO) and FSD Pharma Inc. (CSE:HUGE) (FSDDF) (0K9.F).