CALGARY,
AB, Jan. 26, 2024 /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 118 Millennium Drive, Fort
McMurray will begin selling recreational cannabis products
and consumption accessories for adult use tomorrow, January 27, 2024. This opening will mark High
Tide's 163rd Canna Cabana-branded retail cannabis location in
Canada, the 79th in the province
of Alberta, and the first in the
Regional Municipality of Wood Buffalo.
Fort McMurray is considered to
be the heart of Alberta's oil and
gas production and is the major population centre for the Regional
Municipality of Wood Buffalo. It is home to thousands of Canadians
from across the country who travel to Fort McMurray to work in Alberta's lucrative oil sands industry. With a
population of approximately 100,000, Wood Buffalo is the 6th most
populous municipality in the province. This brand-new Canna Cabana
is the first location in Fort
McMurray. It is located in the Timberlea shopping plaza, a major retail power
center on the north side of the Municipality. Situated off two of
the main local roadways, this Canna Cabana is surrounded by a mix
of high-density, multi-family and single-family residences.
"I am thrilled to announce the opening of our first store in
Fort McMurray, which is the
beating heart of Alberta's oil and
gas industry. We believe that this strategically located, first
Canna Cabana store in Fort Mac is poised for great success and
should perform above our provincial average, especially given the
fact that its population is made up of a large percentage of highly
paid oil sands workers," said Raj Grover, Founder and Chief
Executive Officer of High Tide.
"Even though we are already the largest cannabis retailer in
Alberta, we continue to find new
and exciting markets and opportunities to expand within our home
province. Our innovative discount club model is quickly becoming a
household name for all things cannabis across Canada, as seen through our rapidly growing
membership numbers, which exceeded 1.2 million as of our third
fiscal quarter disclosure. We look forward to welcoming new ELITE
and Cabana Club members in this exciting new market," 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 163 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 Brandz™ 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.
CONTACT INFORMATION
Media Inquiries
Omar
Khan
Chief Communications and Public Affairs
Officer
High Tide
Inc.
omar@hightideinc.com
403-770-3080
Investor Inquiries
Vahan
Ajamian
Capital Markets Advisor
High
Tide Inc.
vahan@hightideinc.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/high-tide-to-open-first-canna-cabana-store-in-fort-mcmurray-alberta-302045215.html
SOURCE High Tide Inc.