High Tide continues its Canadian domination, opening its 24th Canna Cabana Store.
CALGARY, Sept. 12, 2019 /CNW/ – High Tide Inc. ("High Tide" or the "Company") (CSE:HITI) (OTCQB:HITIF) (Frankfurt:2LY), 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 store located in Unit #2 at 512 St. Albert Trail in St. Albert (the "St. Albert Store") received its first delivery of cannabis products from Alberta Gaming, Liquor and Cannabis ("AGLC"). The Company has also leased a 2,160 square foot retail space located in Unit #L08/09 at 215 Banff Avenue, which is subject to Parks Canada approval but is authorized for a retail cannabis store by the municipal development permit in hand (the "Banff Store").
High Tide currently has 24 branded Canna Cabana locations selling recreation cannabis products across Canada, inclusive of the St. Albert Store located adjacent to northwest Edmonton. "The St. Albert Store will start selling recreational cannabis products and accessories on Friday, September 13th, with grand opening festivities taking place on Saturday, September 14th," said Raj Grover, President and Chief Executive Officer of High Tide.
We are also excited to have organically secured a fantastic retail location on Banff Avenue – the main commercial street in the world-famous town. This is a major achievement for Canna Cabana as over 4 million tourists visit Banff on an annual basisRaj Grover, President and Chief Executive Officer of High Tide
With the opening of the first KushBar location shortly, the Company will soon have 25 branded retail cannabis locations across Canada, barring any changes to the current rate of licensing by AGLC. The remaining Canna Cabana and KushBar stores needed to achieve the AGLC's maximum of 15% market share 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 3 branded locations in Hamilton, Sudbury, and Toronto, Ontario.
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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 complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).
Representing the core of High Tide's business, RGR Canada Inc. is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Famous Brandz Inc. is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures. Famous Brandz' products are sold to wholesalers and retailers around the world. Founded in 2009 and approved by the Canadian Franchise Association, Smoker's Corner Ltd. is among Canada's largest counter-culture chains with 13 locations. Kush West Distribution is in the process of becoming a cannabis wholesaler in the province of Saskatchewan. Based in Amsterdam since 2000, Grasscity.com is the world's preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc. and its 24 branded stores, is in the process of becoming a sizeable retail brand with a sophisticated yet playful customer experience, while KushBar Inc. is a retail cannabis concept that will also be focused on valued consumers in Alberta and Ontario.
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