This Opening Represents the 70th
Canna Cabana Location in Ontario
CALGARY,
AB, Oct. 7, 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 that its Canna Cabana retail cannabis store located at
201 Danforth Avenue, Toronto,
Ontario will begin selling recreational cannabis products
and consumption accessories for adult use today. This opening
brings the total number of Canna Cabana branded retail cannabis
locations to 184 in Canada, 70
stores in the province of Ontario
and the 10th in the city of Toronto.
Danforth Avenue is on the east side of Toronto and is part of Greektown, a vibrant
walking neighbourhood with large summer festivals such as Taste of
Danforth and Sounds of Greektown. This new Canna Cabana store opens
across the street from a large provincially owned liquor store and
is one block away from the bustling Broadview subway station. It is also steps
away from the Danforth music hall. Featuring a population density
of nearly 250,000 residents within a three-kilometre radius, this
new store is poised to take advantage of daily foot traffic and
welcome locals and tourists alike attending the various community
events.
"I am pleased to announce the opening of our brand-new Cabana on
Danforth Avenue in Toronto. With a
population density exceeding 250,000 residents in a three-kilometer
radius, this neighbourhood also benefits immensely from the
thousands of tourists that visit the popular community festivals
each year. Opening Canna Cabana stores in high traffic locations
such as Danforth Avenue provides great exposure for our brand and
gives us an excellent opportunity to continue onboarding thousands
of new ELITE and Cabana Club members," said Raj Grover, Founder and
Chief Executive Officer of High Tide.
"Our Canna Cabana brand and the Cabana Club have grown
exponentially in popularity over the past six years and this is why
we are now evaluating additional retail opportunities in the city
of Toronto. We are targeting
densely populated corridors like Danforth and other prime
locations to serve as many Torontonians as we can through our
disruptive and innovative retail model. Expanding our reach in one
of the largest and fastest growing population centers in
North America will be a focus for
us through the remainder of 2024 and beyond," 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 and is the second-largest cannabis
retailer globally by store count1. High Tide (HITI) is
uniquely-built around the cannabis consumer, with
wholly-diversified and fully-integrated operations across all
components of cannabis, including: and fully-integrated operations
across all components of cannabis, including:
Bricks & Mortar Retail: Canna Cabana™ is the largest
cannabis retail chain in Canada,
with 184 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and growing. In 2021, Canna Cabana
became the first cannabis discount club retailer in the world.
Retail Innovation: Fastendr™ is a unique and fully
automated technology that employs retail kiosks to facilitate a
better buying experience through browsing, ordering and pickup.
Consumption Accessories: High Tide operates a suite of
leading accessory e-commerce platforms across the world, including
Grasscity.com, Smokecartel.com, Dailyhighclub.com, and
Dankstop.com.
Brands: High Tide's industry-leading and consumer-facing
brand roster includes Queen of Bud, Cabana Cannabis Co, Daily High
Club, Vodka Glass, Puff Puff Pass, Dopezilla, Atomik, Hue, Evolution and more.
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 by the Globe and Mail's Report on Business in 2024 for
the fourth consecutive year and was named as one of the top 10
performing diversified industries stocks in both 2022 and 2024 TSX
Venture 50. High Tide was also 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.
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1 As
reported by ATB Capital Markets based on store counts as of
February 8, 2024
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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 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.