The New Location is the Second Canna Cabana
to Open in a Mall, Nationally
CALGARY,
AB, May 4, 2023 /CNW/ - 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 Unit
370, 11801 100 St, Grande Prairie,
AB, will begin selling recreational cannabis products and
consumption accessories for adult use tomorrow, May 5. This opening marks High Tide's 153rd Canna
Cabana branded retail cannabis location in Canada and its 77th store in Alberta.
This store is located within Prairie Mall, a major retail hub
for Grande Prairie and the
surrounding communities, as the mall has over 80 established
retailers. Situated beside a national discount grocery retailer,
this location is poised to benefit from the traffic flowing into
one of the best commercial centres in the region with a wide cast
of excellent co-tenants with no immediate competitors within the
Prairie Mall complex. It is also the second Canna Cabana location
to be opened in a major mall.
"The Grande Prairie retail
market is one of the most thriving in Canada, as evidenced by the ongoing success of
our two existing stores in the city. Prairie Mall is the commercial
hub of retail activity in Grande
Prairie and for the smaller surrounding communities because
of its high-value tenants, such as national big-box outlet
retailers. We remain committed to opening Canna Cabana stores in
these prime power centre locations, expanding our innovative
discount club model to communities across Canada," said Raj Grover, President and Chief
Executive Officer of High Tide.
"By continuing to open these high-quality locations in our home
province and beyond, we keep expanding our consumer-oriented,
value-focused offering while also increasing our employment
footprint, which now stands at over 1600 nationally and over 600 in
Alberta. This third Grande Prairie location is our 77th Canna
Cabana store in Alberta, further
solidifying our position as the largest non-franchised retailer in
both Alberta and Canada," 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 153 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 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 both 2021 and 2022 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.sedar.com 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.