This New Store is the Second Canna Cabana
Location to Open in Saskatoon
CALGARY,
AB, Nov. 28, 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 20th Street West, Saskatoon,
Saskatchewan will begin selling recreational cannabis
products and consumption accessories for adult use today. This
opening will mark High Tide's 158th Canna Cabana branded retail
cannabis location in Canada, the
11th in the province of Saskatchewan and the 2nd in Saskatoon.
This Canna Cabana location is situated within the downtown
community of Riversdale, one of the three original settlements of
Saskatoon. As in other cities,
this older neighbourhood has been undergoing a transformation since
2009, welcoming many new businesses and shoppers. Right off a major
thoroughfare through Saskatoon,
this store is just a few blocks from Midtown Common, a bustling shopping plaza with
major big-name retail brands and a movie theatre. Saskatoon is the largest city in Saskatchewan, with a population of over
250,000, and Riversdale is a brand-new market for Canna Cabana.
"This exciting new Canna Cabana is opening in the former
location of Kiaro Cannabis, a prime retail storefront. Following on
the heels of our recent announcement of Canna Cabana opening in a
former Fire & Flower location in Calgary, this store is another excellent
example of how we are capitalizing on saving build-out costs by
targeting prime pre-existing cannabis retail locations for our new
stores. In this hypercompetitive Canadian cannabis landscape, I
have said that every dollar counts and these opportunities expand
our footprint at a much lower cost," said Raj Grover, Founder and
Chief Executive Officer of High Tide.
"Riversdale is the neighbourhood closest to the downtown core
and features many shops, restaurants and other businesses that will
draw new customers, ELITE and Cabana Club members into our newest
Cabana. Saskatchewan is also the
most cannabis-friendly business province where our innovative
discount club model has the greatest opportunity to service our new
and existing loyal club members by providing them with a unique and
compelling variety of products at unbeatable prices, as we are able
to work directly with licensed producers to bring in a variety of
differentiated products to meet our customer's evolving demands. We
anticipate opening a few more locations before the end of this
calendar year. So, stay tuned," 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 158 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.