CALGARY,
AB, Oct. 24, 2024 /PRNewswire/ - 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 97 Bath Road, Kingston,
Ontario, will begin selling recreational cannabis products
and consumption accessories for adult use as of 4:20 PM on October
31st, 2024. This opening will mark High Tide's
186th Canna Cabana branded retail cannabis location in Canada, the 72nd in the province of
Ontario and the first in
Kingston.
Kingston is home
to three major Canadian post-secondary institutions: Queen's
University, the Royal Military College of
Canada and St. Lawrence
College. Two hours from Toronto,
Kingston is situated on the banks
of Lake Ontario and is a city
steeped in Canadian history. This Canna Cabana opens in a robust
power centre, surrounded by anchor tenants such as a major pharmacy
chain, a Canadian pet retailer, and a prominent Canadian home
improvement and auto repair chain. A short drive from the Queen's
University campus, it is a destination shopping centre for students
and residents, with a population density of over 50,000 within a
three-kilometer radius.
"After 6 years of legalization, we are still
expanding into markets where our Canna Cabana brand doesn't yet
have presence. This presents an excellent opportunity for the
growth of our ELITE & Cabana Club community. Expanding into
Kingston, a city with over 30,000
post-secondary students, fits this strategy well, as does the fact
that this new store is located within a major power centre next to
well-established Canadian retail giants," said Raj Grover, Founder
and Chief Executive Officer of High Tide.
"Our focus on quality organic growth remains a
key part of our sustainable business strategy to ensure we are
creating lasting value for shareholders. I look forward to
announcing the launch of several more Cabanas to close out this
calendar year", 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 186 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.
__________________________
|
1 As
reported by ATB Capital Markets based on store counts as
of February 8, 2024
|
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 launch of more stores this
calendar year. 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.