High Tide Inc. (“High Tide” or the “Company”) (TSXV: HITI) (OTCQB: HITIF) (FRA:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced today that the Canna Cabana retail store located at 4600 Bowness Road 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.