Mr. Raj Grover reports
HIGH TIDE ANNOUNCES LICENCES AND AUTHORIZATIONS FROM AGCO TO OPEN CANNA CABANA-BRANDED STORES IN HAMILTON AND SUDBURY
On Friday, April 12, 2019, the Alcohol and Gaming Commission of Ontario (AGCO) approved and issued retail operator licences to High Tide's counterparties Steven Fry and Saturninus Partners (the winners) and also issued retail store authorizations to the winners' respective stores Canna Cabana Hamilton and Canna Cabana Sudbury. The winners are aiming to open their Canna Cabana-branded locations on or before April 20, 2019.
Now that these licences and authorizations have been issued, the winners can finalize their retail stores and order inventory in the form of cannabis products and accessories. "I extend a big congratulations on behalf of the High Tide team to the winners for obtaining their licences and authorizations, and we greatly anticipate the exciting opening of these Canna Cabana-branded stores in their strategic Hamilton and Sudbury locations," said Raj Grover, president and chief executive officer of High Tide. "Helping these winners establish their locations has been a great experience, and we all expect exciting things to happen once the doors of these retail stores are opened to the public," added Mr. Grover. Prior to opening the Hamilton and Sudbury locations, the AGCO will conduct a preopening inspection to ensure the winners are ready to sell cannabis products to the public in accordance with the regulations and standards for cannabis retail stores.
High Tide is assisting with the opening and operation of a third cannabis retail location on Yonge Street in Toronto, Ont. In Saskatchewan, the company is progressing through the necessary steps to complete two pending cannabis retail business acquisitions. In Alberta, High Tide continues to operate 11 existing Canna Cabana retail stores and advance the next 25 locations that are under various stages of development and construction. Lastly, across Alberta, British Columbia and Nova Scotia, the company has 13 Smoker's Corner accessories shops, of which five are corporately owned and eight are franchises.
About High Tide Inc.
High Tide is an Alberta-based downstream cannabis corporation focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker's Corner Ltd., Grasscity, Canna Cabana Inc. and the majority of KushBar Inc. High Tide's strategy as a parent company is to extend and strengthen its integrated value chain while providing a complete customer experience and maximizing shareholder value.
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