CALGARY,
AB, Nov. 29, 2023 /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 481 River Avenue, Winnipeg, Manitoba will begin selling
recreational cannabis products and consumption accessories for
adult use on Friday, December 1,
2023. This opening will mark High Tide's 159th Canna Cabana
branded retail cannabis location in Canada, the 11th in Manitoba, and the 6th store in Winnipeg, the capital city of the
province.
Located in one of the most desirable communities in Winnipeg, Osborne Village, this new Canna
Cabana location is anchored by a national grocery store chain, a
provincially run liquor store, and a major Canadian pharmacy
retailer. The Village is across the Assiniboine River from the
Manitoba Legislature and is one of the highest-density
neighbourhoods in the city. Besides these strong national and
provincial anchors, this new location will enjoy additional
customer traffic visiting the various restaurants as well as
numerous other retail businesses in the area.
"I am pleased to announce this brand new Canna Cabana location
in Osborne Village, one of the highest-density neighbourhoods in
Winnipeg. Becoming meaningfully
cash flow positive prior to the end of this calendar year has
opened up space for us to hit the gas pedal again on new organic
store openings across the country. Staying the course with our
premier site selection strategy, I am very excited about the launch
of this excellent Canna Cabana location," said Raj Grover, Founder
and Chief Executive Officer of High Tide.
"The province of Manitoba has
become even more attractive to do business in as it moved in the
right direction to support the cannabis industry by repealing the
6% SRF. With several exciting stores in the announcement pipeline,
we are on track to end 2023 with a number of solid additions to our
retail portfolio," 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. 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
non-franchised cannabis retail chain in Canada, with 159 current locations spanning
British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana
became the first cannabis discount club retailer in Canada.
Retail Innovation: Fastendr™ is a unique and fully
automated technology that integrates retail kiosks and smart
lockers to facilitate a better buying experience through browsing,
ordering and pickup.
E-commerce Platforms: High Tide operates a suite of
leading accessory sites across the world, including Grasscity.com,
Smokecartel.com, Dailyhighclub.com, and Dankstop.com.
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 Brand™ 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 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 opening future stores in prime power centre locations
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.