CALGARY,
AB, Dec. 21, 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 11501 Buffalo Run Blvd Tsuut'ina, Alberta will begin selling recreational
cannabis products and consumption accessories for adult use on
Saturday, December 23. This opening
will mark High Tide's 160th Canna Cabana branded retail cannabis
location in Canada, the 78th in
the province of Alberta and the
first Canna Cabana on the Tsuut'ina Nation.
Opening in the Taza Development of The Shops of Buffalo Run,
this brand-new Canna Cabana will serve community members of the
Tssut'ina Nation, South West
Calgary residents and the surrounding rural communities.
Situated steps away from an internationally recognized
membership-only wholesale grocery and retail chain, this new store
stands out among other strong anchor tenants such as banks,
quick-service restaurant chains, and major discount retailers.
Located just off the newly completed section of Stoney/Tsuut'ina
Trail, Calgary's ring road, this
store will welcome ELITE and Cabana Club members as one of the only
cannabis stores within a two-kilometre radius.
"I am excited to announce the opening of the 160th Canna Cabana
store in Canada and the first of
our flagship retail cannabis stores on the Tsuut'ina Nation. The
Shops at Buffalo Run is a high-traffic retail power centre with
direct access to an estimated 100,000 community members and
residents. Coupled with strong anchor tenants and few competitors,
this Canna Cabana is well positioned to become a high revenue
store," said Raj Grover, Founder and Chief Executive Officer of
High Tide.
"I would like to thank the Tsuut'ina Nation and the Taza
Development group for welcoming the Canna Cabana brand into this
exciting new development. This store builds upon our existing
partnerships with First Nations communities in Manitoba, including the Opaskwayak Cree Nation
and the Nisichawayasihk Cree Nation. I look forward to announcing a
slew of additional store openings before the New Year," added Mr.
Grover.
"We are continuously striving to provide an inviting and
convenient space for both businesses and consumers, and the
continued growth and diversity of amenities, retail, and service
offerings available in The Shops at Buffalo Run is a testament to
our dedication towards that goal," said James Robertson, President of Taza Development
Corp.
"Our commitment to bringing top-notch retailers and businesses
to the area is reinforced through this new addition, and we are
confident that it will be a welcomed addition to the retail mix,"
added Mr. Robertson.
ABOUT THE TSUUT'INA
NATION
The Tsuut'ina Nation has a rich and enduring history, with roots
predating the establishment of the City
of Calgary and the Province of Alberta. Since entering Treaty 7 with the
Crown in 1877, the Tsuut'ina people have maintained a fully
independent culture and have made significant strides in progress
and innovation. Governed by a Chief and Council, the Tsuut'ina
Nation operates its own Administration, Business, and Service
programs, including Tosguna (Police), the Tsuut'ina Fire
Department, Public Works, and Civic Services.
ABOUT TAZA DEVELOPMENT
CORP.
Taza Development Corp. is a joint venture between Canadian real
estate company Canderel and the Tsuut'ina Nation, a reserve home to
over 2,300 community members adjacent to the City of Calgary, Alberta. Over the next 25+
years, their 20-member team, governed by a Board of Directors, will
oversee the development of three distinct yet interconnected
communities—Taza Park, Taza Crossing and Taza Exchange—on 1,200
acres of land, bringing about significant social and economic
prosperity to the community, while solidifying its place as a key
player in Canada's real estate
market.
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 160 current locations
spanning British Columbia,
Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana
became the first cannabis discount club retailer in North America.
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, the
expected revenue of the new location, and our commitment to opening
future stores on the timelines indicated herein. 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.