CALGARY,
AB, Oct. 10, 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 3406 Dundas Street W, Toronto, Ontario will begin selling
recreational cannabis products and consumption accessories for
adult use on Sunday, October 13. This
opening will mark High Tide's 185th Canna Cabana branded retail
cannabis location in Canada, the
71st in the province of Ontario
and the 11th in the city of Toronto.
The new Dundas Street Canna Cabana opens in the west end of
Toronto, in the mature and
established neighbourhood of Runnymede with a three-kilometer population
density exceeding 150,000 residents. This new store is situated in
a retail shopping plaza anchored by a national grocery chain and
several other locally owned businesses.
"I am thrilled to announce the opening of our 185th Canna Cabana
location in Canada. We achieved
this significant milestone just days before the sixth anniversary
of Canadian cannabis legalization. I am so proud of what our team
has been able to accomplish in such a short time, especially when
some of our largest competitors have filed for CCAA or closed their
doors completely," said Raj Grover, Founder and Chief Executive
Officer of High Tide.
"As previously communicated, we remain focused on rapidly
expanding our store network organically across Canada. Our team has been active in sourcing
new store sites in tactically selected and established locations in
line with our real estate strategy. Our construction pipeline is
robust, with many more high-quality sites like Dundas to be launched throughout this calendar
year and into 2025," added Mr. Grover.
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 185 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.
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1 As
reported by ATB Capital Markets based on store counts as of
February 8, 2024
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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 by the Globe and Mail's Report on Business in 2024 for
the fourth consecutive year 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, and our
commitment to rapidly expanding, launching more sites in 2025 and
beyond, and the expansion of our discount club model. 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.
