HIGH TIDE ANNOUNCES THE OPENING OF ITS TENTH CANNA CABANA STORE
High Tide Inc. (HITI.C) has been licensed to open its 10th Canna Cabana retail store, which is located at 11032 Elbow Drive SW in Calgary, Alta. Having met all municipal business requirements, the Elbow Drive Store is approved to sell smoking accessories and cannabis lifestyle products while the temporary suspension of incremental cannabis retail licensing (the "Moratorium") by Alberta Gaming, Liquor and Cannabis (the "AGLC") remains in effect.
Following an appeal of its initial approval in September of 2018, the Elbow Drive Store recently received a decision in its favour, which allowed High Tide to continue with the outlet's development and open it for business. "The Elbow Drive Store is an important win for the Company and for our team members who work hard to find great retail locations," said Raj Grover, President and Chief Executive Officer of High Tide. "Obtaining this positive decision reaffirms our ability to plan strategically and execute well, while also providing an opportunity for the residents and businesses in the surrounding community to engage with our employees on the topic of recreational cannabis." added Mr. Grover. As an area with a high flow of traffic in and out of central Calgary as well as a diverse retail offering, this location on Elbow Drive provides excellent exposure for the Canna Cabana brand.
In addition to this opening, the Company also recently won an appeal in Edmonton to convert an existing Smoker's Corner store in a prime area along Jasper Avenue to a Canna Cabana retail cannabis location. High Tide now has 36 of the 37 AGLC-mandated maximum development permits for its Canna Cabana and KushBar retail cannabis stores across Alberta and expects to receive the one remaining development permit in the near future. High Tide continues to advance its next 26 Canna Cabana locations, which are under various stages of development and construction. The Company also continues to work towards the introduction of the Canna Cabana brand to residents of Saskatchewan and Ontario through its various previously announced arrangements.
About High Tide Inc.
High Tide is an Alberta-based, downstream cannabis corporation focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker's Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. 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 Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) (Frankfurt: 21P; WKN: A1C4WM) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).