High Tide to Open 75th Canna Cabana in Ontario
High Tide Inc. (Nasdaq: HITI) announced the opening of its 75th Canna Cabana store in Ontario, located in Richmond. This marks the company's 189th cannabis retail location in Canada. The new store, situated at 5921 Perth Street, will begin operations on December 14, 2024, in a shopping area anchored by major retailers including a provincial liquor store and national chains.
The location benefits from low competitive density and favorable cannabis demographics. CEO Raj Grover expressed excitement about the company's global Cabana Club launch and its potential impact on the e-commerce space. Additionally, the company granted 918,688 restricted share units to officers, directors, and consultants under its Omnibus Plan.
High Tide Inc. (Nasdaq: HITI) ha annunciato l'apertura del suo 75° negozio Canna Cabana in Ontario, situato a Richmond. Questo segna il 189° punto vendita di cannabis in Canada. Il nuovo negozio, situato al 5921 di Perth Street, inizierà le sue operazioni il 14 dicembre 2024, in un'area commerciale ancorata da importanti rivenditori, tra cui un negozio di liquor provinciale e catene nazionali.
La posizione beneficia di una bassa densità competitiva e di favorevoli demografie relative alla cannabis. Il CEO Raj Grover ha espresso entusiasmo per il lancio globale del Cabana Club dell'azienda e il suo potenziale impatto nel settore dell'e-commerce. Inoltre, l'azienda ha assegnato 918.688 unità di azioni vincolate a funzionari, direttori e consulenti nell'ambito del suo Piano Omnibus.
High Tide Inc. (Nasdaq: HITI) anunció la apertura de su 75ª tienda Canna Cabana en Ontario, ubicada en Richmond. Esto marca la 189ª ubicación de venta minorista de cannabis en Canadá. La nueva tienda, situada en 5921 Perth Street, comenzará operaciones el 14 de diciembre de 2024, en una zona comercial anclada por importantes minoristas, incluyendo una tienda provincial de licores y cadenas nacionales.
La ubicación se beneficia de una baja densidad competitiva y demografías favorables para la cannabis. El CEO Raj Grover expresó su entusiasmo por el lanzamiento global del Cabana Club de la compañía y su potencial impacto en el espacio del comercio electrónico. Además, la empresa otorgó 918,688 unidades de acciones restringidas a funcionarios, directores y consultores bajo su Plan Ómnibus.
하이 타이드 주식회사 (Nasdaq: HITI)가 온타리오의 75번째 캐나 캐바나 매장을 리치먼드에 개점한다고 발표했습니다. 이는 회사의 캐나다 내 189번째 대마초 소매점입니다. 새 매장은 5921 퍼스 스트리트에 위치하여 2024년 12월 14일에 운영을 시작할 예정이며, 주류 상점 및 대형 체인점들이 있는 쇼핑 지역에 위치해 있습니다.
이 위치는 낮은 경쟁 밀도와 대마초에 유리한 인구통계의 혜택을 누립니다. CEO 라지 그로버는 회사의 글로벌 캐바나 클럽 출범과 이커머스 분야에 미칠 잠재력에 대해 기대감을 나타냈습니다. 또한, 회사는 옴니버스 계획에 따라 임원, 이사 및 컨설턴트에게 918,688개의 제한 주식 단위를 부여했습니다.
High Tide Inc. (Nasdaq: HITI) a annoncé l'ouverture de son 75ème magasin Canna Cabana en Ontario, situé à Richmond. Cela marque le 189ème point de vente de cannabis au Canada. Le nouveau magasin, situé au 5921 Perth Street, commencera ses opérations le 14 décembre 2024, dans une zone commerciale ancrée par des grands détaillants, y compris un magasin de spiritueux provincial et des chaînes nationales.
Cette location bénéficie d'une faible densité de concurrence et de démographies favorables pour le cannabis. Le PDG Raj Grover a exprimé son enthousiasme pour le lancement mondial du Cabana Club de l'entreprise et son impact potentiel sur le commerce électronique. De plus, l'entreprise a attribué 918 688 unités d'actions restreintes à des dirigeants, des administrateurs et des consultants dans le cadre de son Plan Omnibus.
High Tide Inc. (Nasdaq: HITI) gab die Eröffnung seines 75. Canna Cabana Geschäfts in Ontario bekannt, das sich in Richmond befindet. Dies markiert den 189. Einzelhandelsstandort für Cannabis in Kanada. Das neue Geschäft, das sich in der 5921 Perth Street befindet, wird am 14. Dezember 2024 in einem Einkaufsbereich eröffnet, der von großen Einzelhändlern wie einem provinziellen Spirituosengeschäft und nationalen Ketten geprägt ist.
Der Standort profitiert von einer niedrigen Wettbewerbsdichte und günstigen demografischen Daten im Bereich Cannabis. CEO Raj Grover äußerte Begeisterung über den globalen Launch des Cabana Clubs des Unternehmens und dessen potenzielle Auswirkungen auf den E-Commerce-Bereich. Darüber hinaus vergab das Unternehmen 918.688 eingeschränkte Aktienoptionen an Führungskräfte, Direktoren und Berater im Rahmen seines Omnibusplans.
- Expansion of retail footprint with 189th store nationwide and 75th in Ontario
- Strategic location in low-competition area with strong retail anchor tenants
- Entry into new market within Ottawa region
- None.
Insights
Opening the 75th Ontario store in Richmond marks continued steady expansion in Canada's most populous province, though the impact on High Tide's overall business is modest. The location's strategic positioning near complementary retail anchors and local competition suggests solid revenue potential, but single store openings typically don't move the needle significantly for a company of this size.
The CEO's comments about upcoming international initiatives and the global Cabana Club launch are more intriguing from a business perspective, as geographic expansion and e-commerce growth could provide meaningful upside. However, without specific details, their impact remains speculative. The RSU grants, while part of standard compensation practices, represent minor dilution of approximately
The new Richmond location demonstrates High Tide's disciplined site selection strategy, targeting areas with favorable demographics and competition. The store's placement in a high-traffic retail node anchored by established national chains should drive consistent foot traffic. The Ottawa market has historically performed well for Canna Cabana, suggesting this location could achieve above-average performance.
However, with 189 total locations already operational, incremental store openings have diminishing returns on enterprise value. The more significant potential catalyst lies in the mentioned global Cabana Club expansion, which could leverage the company's retail expertise into higher-margin e-commerce operations. Until more details emerge about international plans, this remains primarily a steady-state retail growth story.
"I'm very excited about our recently announced global Cabana Club launch and its potential to disrupt the online landscape with our cutting-edge products and unbeatable pricing. On top of our disruptive moves in the e-commerce space, we continue to strengthen our core business of bricks and mortar cannabis stores by adding another location in
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Grant of Restricted Share Units
The Company also announced that its Board of Directors has approved the grant of 855,252 restricted share units ("RSUs") to officers/directors/consultants of the Company, and 63,436 RSU's to officers of the Company pursuant to the Company's Omnibus Plan, which became effective on June 2, 2022. Each RSU entitles the holder to acquire one common share of the Company upon vesting.
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
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
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.
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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, our commitment to opening future stores in prime power centre locations and the expansion of our discount club model, and the announcement of future initiatives in the coming weeks. 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.
FAQ
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