CALGARY,
AB, Dec. 27, 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 457 Hazeldean Road Kanata,
Ontario has begun selling recreational cannabis products and
consumption accessories for adult use. This opening marks High
Tide's 161st Canna Cabana branded location in Canada, the 53rd in the province of
Ontario and the 2nd in
Kanata.
With a population of approximately 100,000 and a mix of civil
servants and high-tech workers, Kanata is ideally suited for the Canna Cabana
brand. This new store is situated on Kanata's main thoroughfare and is in a major
retail power centre, anchored by a provincially owned liquor store
chain and an upscale grocery store chain among several popular
quick-service restaurants.
"Our new Kanata location
compliments our highly successful existing store in the heart of
Kanata's tech district. This new
site is situated strategically in Kanata's commercial district in a
well-trafficked retail power centre, which ensures that all
residents of this fast-growing and prosperous Ottawa suburb will have easy access to our
innovative discount club model, servicing even more ELITE and
Cabana Club members," said Raj Grover, Founder and Chief Executive
Officer of High Tide.
"The bulk of our expansion and organic store openings for early
2024 will be focused in Ontario.
With the store cap set to double and Mississauga, Ontario's third-largest city,
recently opting into legal cannabis sales, we are very excited
about the opportunity that Canada's largest province holds. As we have
seen in other provinces, illicit market capture is highest where
legal cannabis retailers are allowed to grow with market demand,
and our store sale volumes clearly show the demand from Ontarians
for safe recreational cannabis products, " 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 161 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
expectation that the store cap will increase in Ontario, 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.