The Company Also Opens New Retail Cannabis
Store in Waterloo, Ontario
CALGARY, AB, March 8, 2022 /CNW/ - High Tide Inc. ("High Tide"
or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a
leading retail-focused cannabis company with bricks-and-mortar as
well as global e-commerce assets, announced today that it has
launched its cannabis Delivery on Demand program at select Canna
Cabana locations in Alberta, as
permitted by newly-implemented regulations which allow private
sector cannabis retailers to offer delivery and e-commerce services
as of today. Through the Company's Delivery on Demand program,
customers will be guaranteed delivery within two hours of placing
their order, or in any hourly time-slot chosen by the customer
between 12:00pm and 8:00pm outside of
the two hour window. The Company intends to further expand delivery
services across its Alberta store
network in the coming weeks.
"In allowing private sector-led cannabis e-commerce and home
delivery, Alberta has shown its
commitment to helping regulated cannabis retailers effectively
compete against and drive out illicit market operators. By
launching Delivery on Demand at Canna Cabana locations in
Alberta, we can now offer our
Cabana Club members in the province access to our unbeatable prices
on cannabis and consumption accessories from the comfort of their
own homes," said Raj Grover, President and Chief Executive Officer
of High Tide. "Between our industry-leading prices and Delivery on
Demand guarantee, we are able to offer a fantastic delivery
experience for our Alberta
customers, both existing and new. As the largest cannabis retailer
in Alberta, the launch of delivery
and e-commerce services will help to solidify our leadership
position and gain further market share in the province," added Mr.
Grover.
OPENING OF NEW RETAIL CANNABIS STORE IN WATERLOO, ONTARIO
The Company further announced today that its Canna Cabana retail
cannabis store located at 440 Erb Street West in Waterloo, Ontario, has begun selling
recreational cannabis products for adult use. This opening
represents High Tide's 113th branded retail location across
Canada, and 34th in Ontario, selling recreational cannabis
products and consumption accessories. This store will also be High
Tide's third to open in the Waterloo Region, one of Ontario's fastest-growing metropolitan areas
with a population of over 575,000 people. The store is located in
Beechwood Centre, a shopping mall anchored by a national grocery
retailer, as well as other national and provincial retail
chains.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with
bricks and mortar as well as global e-commerce assets. The Company
is the largest Canadian retailer of recreational cannabis as
measured by revenue, with 113 current locations spanning
Ontario, Alberta, Manitoba and Saskatchewan. High Tide was featured in the
third annual Report on Business Magazine's ranking of Canada's Top Growing Companies in 2021, and
was named as one of the top 10 performing diversified industries
stocks in the 2022 TSX Venture 50™. The Company is also
North America's first and only
cannabis discount club retailer, featuring Canna Cabana, Meta
Cannabis Co., and Meta Cannabis Supply Co. banners, with additional
locations under development across the country. High Tide's
portfolio also includes retail kiosk and smart locker Fastendr™
technology. High Tide has been serving consumers for over a decade
through its established e-commerce platforms including
Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com
and more recently in the hemp-derived CBD space through
Nuleafnaturals.com, FABCBD.com, and BlessedCBD.co.uk, 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.
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, its profile page on SEDAR at www.sedar.com,
and its profile page on EDGAR at www.sec.gov.
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. business. 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.
This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in
the United States of America. The
securities have not been and will not be registered under the
United States Securities Act of 1933 (the "1933 Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons (as
defined in the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such
registration is available.
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SOURCE High Tide Inc.