IRW-PRESS: High Tide Inc.: High Tide opens third Canna Cabana branch in Hamilton (Ontario)
CALGARY, AB, November 18, 2024 / IRW-Press / High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA) – a successful retail focused company that founded to provide real value in every cannabis sub-sector – today announced its Canna Cabana cannabis branch at the address 1508 Upper James Street in Hamilton, Ontario will begin selling recreational cannabis products and related consumption accessories to adults this week. With this opening, High Tide now has its 187th Canna Cabana store location selling cannabis in Canada, its 73rd store location in the Province of Ontario, and its third store location in the City of Hamilton.
Opening in a former GameStop store, this Canna Cabana store enjoys excellent visibility in Upper James Square, a large shopping center in Hamilton. With few competitors in the area, this new location is home to major Canadian discount retailers and several quick service restaurants. The corner store expands Canna Cabana’s presence in the thriving Hamilton market with a population density of over 150,000 within a 5km radius.
I am thrilled to announce the opening of our newest Cabana store, further expanding our reach in the Greater Toronto and Hamilton area. Thanks to its well-established industrial sector, world-class universities, colleges and research-intensive companies, Hamilton has many of the key demographic factors critical to our success. Earlier this year, we announced that we would be increasing our organic store openings, with a focus on underserved, high-potential markets in Ontario. I’m pleased to announce that our team opened 25 new stores across Canada this year, including 19 in Ontario. This exceeded our minimum goal of 20 new stores, just six weeks before the end of the year, said Raj Grover, founder and chief executive officer of High Tide.
While Canadian brick-and-mortar sales remain the core of our business, innovation in e-commerce remains a priority. “I look forward to announcing some exciting new offerings that I believe will be as groundbreaking internationally as our Cabana Club in Canada,” added Mr. Grover.
ABOUT HIGH TIDE
High Tide, Inc. is the leading, community-grown, retail-focused cannabis company focused on unlocking the full value of the world’s most powerful plant and is the second largest cannabis retailer in the world by store count. As reported by ATB Capital Markets reports based on the number of trades as of February 8, 2024
. High Tide (HITI) is a unique cannabis consumer-focused company whose broad, fully integrated operations span all aspects of the cannabis industry, including:
Brick-and-mortar retail: Canna Cabana is the largest cannabis retail chain in Canada with currently 187 locations in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and counting. Canna Cabana became the first retailer in the world with a cannabis discount club in 2021.
Innovative Retail: Fastendr is a unique, fully automated technology that integrates retail kiosks to provide a better shopping experience across browsing, ordering and pickup.
Consumer Accessories: High Tide operates a number of the leading accessories e-commerce platforms around the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com and Dankstop.com
Brands: High Tide’s industry-leading and consumer-facing brands include Queen of Bud, Cabana Cannabis Co, Daily High Club, Vodka Glass, Puff Puff Pass, Dopezilla, Atomik, Hue, Evolution and many more.
CBD: High Tide continues to cultivate the possibilities of CBD for consumers through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide provides the cannabis category with wholesale solutions through Valiant.
Licensing: High Tide continues to advance cannabis culture through new partnerships and licensing agreements under the Famous Brandz name.
Staying ahead of trends, High Tide was named one of Canada’s fastest growing companies in 2024 by the Globe and Mail’s Report on Business for the fourth consecutive year. It was also named one of the 10 best-performing stocks in diversified industries on the TSX Venture 50 in 2022 and 2024. Additionally, High Tide was listed number one in the Retail category on the Financial Times’ 2023 list of America’s Fastest-Growing Companies. Visit www.hightideinc.com to discover the full effects of High Tide. To learn about the Company’s investment results, visit High Tide’s profile page on SEDAR+ and EDGAR.
The TSX Venture Exchange and its regulators (referred to as Regulation Services Providers in the policies of the TSXV) accept no responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Media contact:
Omar Khan
Chief Communications und Public Affairs Officer
403-770-3080
Investor contact:
Vahan Ajamian
Capital Markets Advisor
High Tide Inc.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking information and forward-looking statements within the meaning of applicable securities laws. The use of the words could, intend, expect, believe, will, forecast, estimate and similar expressions, as well as statements relating to matters that are not historical facts, are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions regarding the outcome and timing of such future events. Forward-looking statements contained herein include, but are not limited to, statements regarding: the timing of the commencement of sales of recreational cannabis products and adult-use accessories at our new location, the expected benefits of the location, and our commitment to opening future stores in prime locations and expanding our business Discount club model. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those reflected in these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors and assumptions regarding future events that may prove to be inaccurate and are subject to numerous risks and uncertainties some 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 Appendix A of our most recent Annual Information Form and elsewhere in this press release, which factors may be discussed from time to time time in our regular filings available at www.sedarplus.ca and www.sec.gov. The 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 of this press release and may 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 differences between subsequent actual events and such forward-looking information because this is required by applicable law.
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1. As journalists, we are always interested in hearing from industry experts about their thoughts on current events. Can you tell us more about your role in the cannabis industry and how you have been able to witness the growth of the sector firsthand?
2. The opening of the new Canna Cabana branch in Hamilton is a significant milestone for High Tide Inc. Can you share with us the process of selecting the location and why it was chosen as the ideal spot for the third branch?
3. The company has expressed commitment to expanding its presence in underserved markets with high potential. How does Hamilton fit into this strategy, and what are some of the other underserved markets that High Tide Inc. is exploring for future expansion?
4. Innovation in e-commerce is also a key focus area for High Tide Inc. Can you elaborate on the new offerings you mentioned and how they will revolutionize the cannabis shopping experience?
5. Aside from cannabis retail, High Tide Inc. has a diverse portfolio of brands and services across various segments of the cannabis industry. Can you discuss the strategic rationale behind this diversification and how it benefits the company’s overall growth and sustainability?
