High Tide Expands into Ontario's Durham Region with New Retail Cannabis Store in Ajax
High Tide Inc. (HITI) announced the opening of its 93rd cannabis retail store under the Canna Cabana brand in Ajax, Ontario. This store is strategically located in a commercial plaza and serves a growing community of over 100,000 residents. High Tide continues its expansion across Canada, particularly in Ontario, aiming to tap into strong cannabis consumer demographics. The company is recognized as the most profitable Canadian cannabis retailer, boasting a diversified portfolio that includes various brands and established e-commerce platforms.
- Opened 93rd retail location in Ajax, Ontario, increasing market presence.
- Recognized as the most profitable Canadian cannabis retailer based on Adjusted EBITDA.
- Strategic location in a fast-growing community with a population over 100,000.
- None.
CALGARY, AB, Aug. 31, 2021 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (TSXV: HITI) (Nasdaq: HITI) (FSE: 2LYA), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced today that its Canna Cabana cannabis retail store located at 170 Kingston Road East in Ajax, Ontario, has begun selling recreational cannabis products for adult use. This opening represents High Tide's 93rd branded retail location across Canada, and 23rd in Ontario, selling recreational cannabis products and consumption accessories. The new Canna Cabana store is High Tide's first to open in Ajax, a fast-growing community in the heart of Durham Region. It is located in Ajax's central retail corridor, within a popular commercial plaza which is anchored by a large big box grocery wholesaler and several other national retail chains.
"The opening of the new Ajax store is part of our organic growth strategy that focuses on locations with strong cannabis consumer demographics. With a diversified labour force, including vibrant construction and manufacturing sectors, and a population of over 100 thousand, Ajax definitely fits this bill," said Raj Grover, President and Chief Executive Officer of High Tide. "As we continue our rapid expansion in Ontario, we will ensure that customers in communities of all sizes can benefit from our unique and differentiated one stop cannabis shop experience," added Mr. Grover.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA1, with 93 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment features the Canna Cabana, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its established ecommerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more recently in the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. 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 Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB).
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1 Adjusted EBITDA is a non-IFRS financial measure. |
Neither the TSXV 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.
For more information about High Tide Inc., please visit www.hightideinc.com and its profile page on SEDAR at www.sedar.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as "forward-looking statements" are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as "outlook", "expects", "intend", "forecasts", "anticipates", "plans", "projects", "estimates", "envisages, "assumes", "needs", "strategy", "goals", "objectives", or variations thereof, or stating that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan and that High Tide will receive one or multiple licenses from Alberta Gaming, Liquor & Cannabis, British Columbia's Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority of Manitoba, Alcohol and Gaming Commission of Ontario or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. and KushBar Inc. businesses. High Tide considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.
The forward–looking statements contained herein are current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
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SOURCE High Tide Inc.
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