CALGARY,
AB, Sept. 5, 2024 /PRNewswire/ - High Tide
Inc. ("High Tide" or the "Company") (Nasdaq: HITI)
(TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward
enterprise built to deliver real-world value across every component
of cannabis, announced today that its Canna Cabana retail cannabis
store located at 389 Main Street, Lucan,
Ontario will begin selling recreational cannabis products
and consumption accessories for adult use tomorrow, September 6. This opening will mark High Tide's
183rd Canna Cabana branded retail cannabis location in Canada, the 69th in the province of
Ontario, and will be the first
licensed retail cannabis store to open in Lucan.
![High Tide Inc., September 5, 2024 (CNW Group/High Tide Inc.) High Tide Inc., September 5, 2024 (CNW Group/High Tide Inc.)](https://mma.prnewswire.com/media/2496699/High_Tide_Inc__High_Tide_to_Open_Canna_Cabana_in_Lucan__Ontario.jpg)
The store, roughly halfway between the major university and
college hub of London, Ontario and
the popular beach town of Grand
Bend, is in Lucan, Ontario
and nestled amongst the scenic farmlands of Southwestern Ontario. This organic Canna
Cabana location will open in a brand-new and rapidly growing retail
plaza, with anchor tenants that include a major provincial grocery
chain, a Canadian discount retailer, and several quick-service
restaurants.
"I am thrilled to announce the opening of our new Cabana in
Lucan, Ontario. Expansion into
Ontario's cottage country and
other underserved areas has been a large focus for High Tide this
year, as we have seen demand increase for our Cabana Club. While
some of our competitors file for bankruptcy protection, our team
has been charting a thoughtful path towards 300 Canna Cabana
locations across Canada," said Raj
Grover, Founder and Chief Executive Officer of High Tide.
"September is already off to a great start, with the successful
launch of Canna Cabana's next-gen website and our upcoming third
fiscal quarter filing. I am enthusiastic about the remainder of
2024 as we put the finishing touches on new organic store openings
and other exciting projects in our pipeline, about which I hope to
share more details soon," added Mr. Grover.
Employee Stock Options
Grant
In addition, High Tide announces the grant of
60,000 incentive stock options (the "Options") and 50,000 in
cancellations to various employees, consultants and management of
the Company. Each Option is exercisable at the closing price of the
Company's common shares listed on the TSX Venture Exchange (the
"TSXV") based on the last trading day immediately prior to this
press release, which expires three years from the date of grant,
and vests over a two-year period. Each Option is exercisable to
purchase one common share of the Company and are being issued
pursuant to the terms of the Company's Omnibus Plan, which became
effective on June 2, 2022.
ABOUT HIGH TIDE
High Tide, Inc. is the leading community-grown, retail-forward
cannabis enterprise engineered to unleash the full value of the
world's most powerful plant and is the second-largest cannabis
retailer globally by store count1. High Tide (HITI) is
uniquely-built around the cannabis consumer, with
wholly-diversified and fully-integrated operations across all
components of cannabis, including:
Bricks & Mortar Retail: Canna Cabana™ is
the largest cannabis retail chain in Canada, with 183 current locations spanning
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and growing. In 2021, Canna Cabana
became the first cannabis discount club retailer in the world.
Retail Innovation: Fastendr™ is a unique and
fully automated technology that employs retail kiosks to facilitate
a better buying experience through browsing, ordering and
pickup.
Consumption Accessories: High Tide operates a suite of
leading accessory e-commerce platforms across the world, including
Grasscity.com, Smokecartel.com, Dailyhighclub.com, and
Dankstop.com.
Brands: High Tide's industry-leading and consumer-facing
brand roster includes Queen of Bud™, Cabana Cannabis
Co™, Daily High Club™, Vodka
Glass™, Puff Puff Pass™,
Dopezilla™, Atomik™, Hue™,
Evolution™ and more.
CBD: High Tide continues to cultivate the possibilities
of consumer CBD through Nuleafnaturals.com, FABCBD.com,
blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide keeps that cannabis
category stocked with wholesale solutions via
Valiant™.
Licensing: High Tide continues to push cannabis culture
forward through fresh partnerships and license agreements under the
Famous Brandz™ name.
High Tide consistently moves ahead of the currents, having been
named one of Canada's Top Growing
Companies in 2021, 2022 and 2023 by the Globe and Mail's Report on
Business Magazine, and was named as one of the top 10 performing
diversified industries stocks in both 2022 and 2024 TSX Venture 50.
High Tide was also ranked number one in the retail category on the
Financial Times list of Americas' Fastest Growing Companies for
2023. To discover the full impact of High Tide, visit
www.hightideinc.com. For investment performance, don't miss the
High Tide profile pages on SEDAR+ and EDGAR.
Neither the TSX Venture Exchange 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.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking information"
and "forward-looking statements within the meaning of applicable
securities legislation. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Company's current belief or
assumptions as to the outcome and timing of such future events. The
forward-looking statements herein include, but are not limited to,
statements regarding: the timing of our new location beginning to
sell recreational cannabis products and consumption accessories for
adult use, the expected benefits of the store location, our
commitment to opening the number of future stores communicated, and
our other future projects. Readers are cautioned to not place undue
reliance on forward-looking information. Actual results and
developments may differ materially from those contemplated by these
statements. Although the Company believes that the expectations
reflected in these statements are reasonable, such statements are
based on expectations, factors, and assumptions concerning future
events which may prove to be inaccurate and are subject to numerous
risks and uncertainties, certain of which are beyond the Company's
control, including but not limited to the risk factors discussed
under the heading "Non-Exhaustive List of Risk Factors" in Schedule
A to our current annual information form, and elsewhere in this
press release, as such factors may be further updated from time to
time in our periodic filings, available at www.sedarplus.ca and
www.sec.gov, which factors are incorporated herein by reference.
Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement and reflect the
Company's expectations as of the date hereof and are subject to
change thereafter. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, estimates or opinions, future events or results,
or otherwise, or to explain any material difference between
subsequent actual events and such forward-looking information,
except as required by applicable law.
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SOURCE High Tide Inc.