High Tide Inc. (“High Tide” or the “Company”) (TSXV:HITI) (NASDAQ:HITI) (FRA:2LYA), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced today that its Canna Cabana stores located at 949 Fort William Rd. in Thunder Bay, Ontario, and 1328 Mayor Magrath Dr. S in Lethbridge, Alberta, have begun selling recreational cannabis products for adult use. The new stores bring High Tide’s total branded retail locations selling recreational cannabis products and consumption accessories across Canada to 89. In line with the Company’s strategy of driving organic growth in profitable neighbourhoods, the new stores are located off high traffic arterial roadways and are near several popular restaurant chains and big box stores. The new Thunder Bay store is also High Tide’s first location in northwestern Ontario’s largest city with a population of over 110,000.
“The new stores demonstrate our continued commitment to the organic growth of our bricks and mortar retail business in Canada. Like all of our locations, they will offer customers our unique one stop cannabis shop experience,” said Raj Grover, President and Chief Executive Officer of High Tide. “As pandemic-related restrictions ease in Ontario we look forward to ramping up our growth in Canada’s largest province with additional store openings expected very soon. I also look forward to sharing more information imminently about our expanded e-commerce footprint in the United States,” 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 EBITDA1, with 89 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 established e-commerce platforms including Grasscity.com and Smokecartel.com, and more recently in the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as 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 Tilray Inc. (TSX:TLRY) (Nasdaq:TLRY) and Aurora Cannabis Inc. (TSX:ACB) (Nasdaq:ACB).
