CALGARY,
AB, Nov. 18, 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 today that its Canna Cabana retail cannabis store located
at 1508 Upper James Street, Hamilton,
Ontario will begin selling recreational cannabis products
and consumption accessories for adult use this week. This opening
will mark High Tide's 187th Canna Cabana branded retail cannabis
location in Canada, the 73rd in
the province of Ontario and the
third in the city of Hamilton.
Opening in a former GameStop location, this Canna
Cabana store will have excellent visibility within Upper James
Square, a major shopping centre in Hamilton. With few competitors in the area,
this new store features major Canadian discount retailers and
several quick-service restaurants. Situated in a corner unit, this
store expands the Canna Cabana footprint in the excellent market of
Hamilton and is surrounded by a
population density of over 150,000 in a 5-kilometer radius.
"I am thrilled to announce the opening of our
newest Cabana, further expanding our reach in the Greater Toronto and Hamilton Area. With its well-established
industrial sector, world-class universities, colleges, and
research-intensive companies, Hamilton is home to many of the key
demographics essential to our success. Earlier this year, we
communicated that we would be ramping up new organic store
openings, with a focus on underserviced and high-potential markets
in Ontario. I am happy to say that
as of today, our team has delivered 25 new stores across
Canada this year, including 19 in
Ontario, exceeding our minimum
target of 20 new stores with six weeks remaining in the year," said
Raj Grover, Founder and Chief Executive Officer of High Tide.
"While Canadian brick-and-mortar sales remain the
heart and soul of our business, innovation in the e-commerce space
remains a priority. I look forward to announcing some exciting new
offerings that I believe will be as disruptive internationally as
our Cabana Club has been in Canada," 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:
Bricks & Mortar Retail: Canna Cabana™
is the largest cannabis retail chain in Canada, with 187 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.
CONTACT INFORMATION
Media Inquiries
Omar
Khan
Chief Communications and Public Affairs
Officer
High Tide
Inc.
omar@hightideinc.com
403-770-3080
Investor Inquiries
Vahan
Ajamian
Capital Markets Advisor
High
Tide Inc.
vahan@hightideinc.com
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 in
prime power centre locations 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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1 As
reported by ATB Capital Markets based on store counts as of
February 8, 2024
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SOURCE High Tide Inc.