CALGARY, AB, July 23, 2021 /CNW/ - High Tide Inc. ("High Tide"
or the "Company") (TSXV: HITI) (Nasdaq: HITI) (FRA: 2LYA), a
retail-focused cannabis corporation enhanced by the manufacturing
and distribution of consumption accessories, announced today that
the Canna Cabana retail store located at 228 Centennial Drive N in
Martensville, Saskatchewan, has
begun selling recreational cannabis products for adult use. This
opening represents High Tide's 88th branded retail
location across Canada, and fourth
in Saskatchewan, selling
recreational cannabis products and consumption accessories. The new
store is poised to benefit from being close to several leading
national restaurant and big box retail chains.
"Following our recent acquisition of a six store portfolio in
Regina, and after having recently
executed several accretive acquisitions designed to bolster our
e-commerce presence in the United
States, we remain committed to organic growth in
Canada," said Raj Grover,
President and Chief Executive Officer. Customers in
Martensville deserve to have
access to a one stop shop for all of their cannabis and consumption
accessory needs and I'm thrilled that as of today this is
possible," added Mr. Grover.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the
manufacturing and distribution of consumption accessories. The
Company is the most profitable Canadian retailer of recreational
cannabis as measured by Adjusted EBITDA1,
with 88 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment
features the Canna Cabana, Meta Cannabis Co., Meta Cannabis Supply
Co. and NewLeaf Cannabis banners, with additional locations under
development across the country. High Tide has been serving
consumers for over a decade through its established ecommerce
platforms including Grasscity.com, Smokecartel.com and
Dailyhighclub.com, and in the hemp-derived CBD space through
CBDcity.com and FABCBD.com as well as its wholesale distribution
division under Valiant Distribution, including the licensed
entertainment product manufacturer Famous Brandz. 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 Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and
Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB).
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1 Adjusted EBITDA is a non-IFRS
financial measure.
|
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this release. For more
information about High Tide Inc., please visit www.hightideinc.com
and its profile page on SEDAR at www.sedar.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking
information or forward-looking statements. Such information and
statements, referred to herein as "forward-looking statements" are
made as of the date of this news release or as of the date of the
effective date of information described in this news release, as
applicable. Forward-looking statements relate to future events or
future performance and reflect current estimates, predictions,
expectations or beliefs regarding future events. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions
or future events or performance (generally, forward-looking
statements can be identified by use of words such as "outlook",
"expects", "intend", "forecasts", "anticipates", "plans",
"projects", "estimates", "envisages, "assumes", "needs",
"strategy", "goals", "objectives", or variations thereof, or
stating that certain actions, events or results "may", "can",
"could", "would", "might", or "will" be taken, occur or be
achieved, or the negative of any of these terms or similar
expressions, and other similar terminology) are not statements of
historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that
may prove to be incorrect, including but not limited to the ability
of High Tide to execute on its business plan and that High Tide
will receive one or multiple licenses from Alberta Gaming, Liquor
& Cannabis, British Columbia's
Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority
of Manitoba, Alcohol and Gaming
Commission of Ontario or the
Saskatchewan Liquor and Gaming Authority permitting it to carry on
its Canna Cabana Inc. and KushBar Inc. businesses. High Tide
considers these assumptions to be reasonable in the circumstances.
However, there can be no assurance that any one or more of the
government, industry, market, operational or financial targets as
set out herein will be achieved. Inherent in the forward-looking
statements are known and unknown risks, uncertainties and other
factors that could cause actual results, performance or
achievements, or industry results, to differ materially from any
results, performance or achievements expressed or implied by such
forward-looking statements.
The forward–looking statements contained herein are current
as of the date of this news release. Except as required by law,
High Tide does not have any obligation to advise any person if it
becomes aware of any inaccuracy in or omission from any
forward-looking statement, nor does it intend, or assume any
obligation, to update or revise these forward-looking statements to
reflect new events or circumstances. Any and all forward-looking
statements included in this news release are expressly qualified by
this cautionary statement, and except as otherwise indicated, are
made as of the date of this news release.
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SOURCE High Tide Inc.