Mr. Raj Grover reports
HIGH TIDE CONTINUES ORGANIC GROWTH WITH TWO STORES IN ALBERTA
High Tide Inc.'s Alberta-based Canna Cabana retail stores located at 7400 Macleod Trail SE, Unit No. 2, in Calgary, and 4806 50 Ave. in Vegreville, have begun selling recreational cannabis products for adult use. These openings bring High Tide's total branded retail locations selling recreational cannabis products and consumption accessories across Canada to 87. Staying true to High Tide's strategy of driving organic growth in profitable neighbourhoods, both stores are located within established retail corridors.
"I am pleased that, despite the ongoing pandemic, our team has managed to continue driving High Tide's organic growth strategy," said Raj Grover, president and chief executive officer of High Tide. "Although Ontario's pandemic-related restrictions on construction continue to impact the pace of store buildouts in that province, we have pivoted our efforts to ramp up the rollout of new stores in other jurisdictions and are hopeful that Ontario's restrictions will ease before the summer construction season gets into full swing. We anticipate more Ontario store openings shortly after construction restrictions are lifted," added Mr. Grover.
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 most profitable Canadian retailer of recreational cannabis as measured by adjusted EBIDTA (earnings before interest, taxes, depreciation and amortization), with 87 current 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, Smokecartel, CBDcity and FABCBD 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. #E
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