Mr. Omar Khan reports
HIGH TIDE OPENS NEW CANNA CABANA STORE IN CALGARY'S MONTGOMERY NEIGHBOURHOOD
High Tide Inc.'s Canna Cabana retail store located at 4600 Bowness Rd. NW, in Calgary's Montgomery neighbourhood, will begin selling recreational cannabis products for adult use as of tomorrow. This opening represents High Tide's 73rd branded retail location across Canada selling recreational cannabis products and consumption accessories.
"Construction has slowed in Ontario due to pandemic-related restrictions, so we have taken steps to temporarily pivot towards ramping up the opening of new locations in other provinces until restrictions ease in Ontario," said Raj Grover, president and chief executive officer of High Tide. "As with all stores operating under the High Tide umbrella, this new location will follow our exclusive one-stop-shop approach that allows consumers to purchase all of their cannabis and accessory needs under one roof," added Mr. Grover.
The new Montgomery store, which is located just two kilometres from the University of Calgary campus, is part of the company's strategic plan to drive organic growth within Canada while pursuing acquisition opportunities that can be immediately accretive to shareholders. This strategy will be accelerated with the $23-million in additional capital recently made available to High Tide through the closing of its oversubscribed bought deal equity financing.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 73 branded retail locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its numerous consumption accessory businesses including e-commerce platforms Grasscity and CBDcity, and its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. 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. Key industry investors in High Tide include Aphria Inc. and Aurora Cannabis Inc.
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