High Tide to Open Canna Cabana in Lucan, Ontario
High Tide Inc. (Nasdaq: HITI) is set to open its 183rd Canna Cabana retail cannabis store in Lucan, Ontario on September 6, 2024. This marks the company's 69th location in Ontario and the first licensed cannabis store in Lucan. The store is strategically located between London and Grand Bend, in a new retail plaza with major anchor tenants.
CEO Raj Grover emphasized the company's focus on expanding into Ontario's cottage country and underserved areas, aiming for 300 Canna Cabana locations across Canada. High Tide also announced the successful launch of Canna Cabana's next-gen website and upcoming third fiscal quarter filing. Additionally, the company granted 60,000 incentive stock options and cancelled 50,000 options for employees, consultants, and management.
High Tide Inc. (Nasdaq: HITI) è pronta ad aprire il suo 183° negozio di cannabis al dettaglio Canna Cabana a Lucan, Ontario, il 6 settembre 2024. Questo segna il 69° punto vendita dell'azienda in Ontario e il primo negozio di cannabis con licenza a Lucan. Il negozio è strategicamente situato tra London e Grand Bend, in una nuova piazza commerciale con importanti locatari principali.
Il CEO Raj Grover ha sottolineato l'attenzione dell'azienda nell'espandersi nel cottage country dell'Ontario e nelle aree meno servite, puntando a 300 posizioni di Canna Cabana in tutto il Canada. High Tide ha anche annunciato il lancio di successo del sito web di nuova generazione di Canna Cabana e la prossima relazione del terzo trimestre fiscale. Inoltre, l'azienda ha concesso 60.000 opzioni su azioni incentivanti e ha annullato 50.000 opzioni per dipendenti, consulenti e dirigenti.
High Tide Inc. (Nasdaq: HITI) está lista para abrir su 183ª tienda de cannabis al por menor Canna Cabana en Lucan, Ontario, el 6 de septiembre de 2024. Esto marca la 69ª ubicación de la empresa en Ontario y la primera tienda de cannabis con licencia en Lucan. La tienda está estratégicamente ubicada entre London y Grand Bend, en una nueva plaza comercial con importantes inquilinos ancla.
El CEO Raj Grover enfatizó el enfoque de la empresa en expandirse hacia el cottage country de Ontario y áreas desatendidas, con el objetivo de alcanzar 300 ubicaciones de Canna Cabana en todo Canadá. High Tide también anunció el exitoso lanzamiento del sitio web de nueva generación de Canna Cabana y la próxima presentación del informe del tercer trimestre fiscal. Además, la empresa otorgó 60,000 opciones sobre acciones de incentivo y canceló 50,000 opciones para empleados, consultores y gerentes.
하이타이드 주식회사 (Nasdaq: HITI)는 2024년 9월 6일에 온타리오 주 루칸에 183번째 카나 카바나 소매 대마초 매장을 열 예정입니다. 이는 회사의 온타리오 주 69번째 위치이며 루칸에서 최초로 허가된 대마초 매장입니다. 이 매장은 런던과 그랜드 벤드 사이에 전략적으로 위치하고 있으며 주요 세입자들이 있는 새로운 소매 광장에 있습니다.
CEO 라지 그로버는 회사가 온타리오의 자연 휴양지와 서비스가 부족한 지역으로의 확장에 초점을 맞추고 있으며, 캐나다 전역에 300개의 카나 카바나 지점을 목표로 하고 있다고 강조했습니다. 하이타이드는 또한 카나 카바나의 차세대 웹사이트의 성공적인 출범과 다가오는 3분기 재무 보고서를 발표했습니다. 추가로, 회사는 60,000개의 인센티브 주식 옵션을 부여하고 50,000개의 옵션을 직원, 컨설턴트 및 경영진을 위해 취소했습니다.
High Tide Inc. (Nasdaq: HITI) s'apprête à ouvrir son 183ème magasin de cannabis au détail Canna Cabana à Lucan, Ontario, le 6 septembre 2024. Cela marque la 69ème localisation de l'entreprise en Ontario et le premier magasin de cannabis agréé à Lucan. Le magasin est stratégiquement situé entre London et Grand Bend, dans une nouvelle zone commerciale avec d'importants locataires.
Le PDG Raj Grover a souligné l'importance pour l'entreprise de s'étendre dans le cottage country de l'Ontario et dans des zones mal desservies, visant ainsi 300 emplacements de Canna Cabana à travers le Canada. High Tide a également annoncé le lancement réussi du site web de nouvelle génération de Canna Cabana et la prochaine déclaration du troisième trimestre fiscal. De plus, l'entreprise a accordé 60 000 options d'achat d'actions incitatives et annulé 50 000 options pour les employés, consultants et dirigeants.
High Tide Inc. (Nasdaq: HITI) plant die Eröffnung seines 183. Canna Cabana Einzelhandelsgeschäfts für Cannabis in Lucan, Ontario am 6. September 2024. Dies markiert die 69. Niederlassung des Unternehmens in Ontario und das erste lizenzierte Cannabisgeschäft in Lucan. Das Geschäft befindet sich strategisch günstig zwischen London und Grand Bend in einem neuen Einzelhandelskomplex mit wichtigen Hauptmietern.
CEO Raj Grover betonte den Fokus des Unternehmens auf die Expansion in die Cottage Country Ontarios und unterversorgte Gebiete, mit dem Ziel, 300 Canna Cabana Standorte in ganz Kanada zu erreichen. High Tide gab auch den erfolgreichen Start der nächsten Generation der Canna Cabana-Website und die bevorstehende Einreichung des Berichts für das dritte Geschäftsquartal bekannt. Darüber hinaus wurden 60.000 Anreizaktienoptionen vergeben und 50.000 Optionen für Mitarbeiter, Berater und das Management storniert.
- Opening of 183rd Canna Cabana store, expanding presence in Ontario
- Strategic location between major university hub and popular beach town
- First licensed retail cannabis store in Lucan, Ontario
- Successful launch of Canna Cabana's next-gen website
- None.
Insights
The opening of a new Canna Cabana store in Lucan, Ontario, represents High Tide's continued expansion in the Canadian cannabis retail market. This strategic location, situated between a university hub and a popular beach town, could potentially capture diverse customer segments. The company's focus on underserved areas and cottage country demonstrates a thoughtful growth strategy.
However, the impact on High Tide's overall financial performance is likely to be minimal in the short term. With this being the
Investors should monitor the company's progress towards its 300-store goal and upcoming Q3 results for a clearer picture of High Tide's financial health and market position in the competitive cannabis retail landscape.
The opening of a new store, while positive for growth, is unlikely to have a significant immediate impact on High Tide's financials. More noteworthy is the mention of the upcoming Q3 filing, which will provide important insights into the company's overall performance and profitability.
The grant of 60,000 stock options to employees and management, balanced by 50,000 cancellations, suggests a neutral effect on dilution. The three-year expiration and two-year vesting period for these options align with standard practices for employee retention and long-term incentives.
Investors should focus on the upcoming Q3 results to assess High Tide's financial health, particularly in light of industry challenges mentioned. Key metrics to watch include revenue growth, margins and cash flow, especially given the company's ambitious expansion plans in a sector where some competitors are struggling financially.
The store, roughly halfway between the major university and college hub of
"I am thrilled to announce the opening of our new Cabana in
"September is already off to a great start, with the successful launch of Canna Cabana's next-gen website and our upcoming third fiscal quarter filing. I am enthusiastic about the remainder of 2024 as we put the finishing touches on new organic store openings and other exciting projects in our pipeline, about which I hope to share more details soon," added Mr. Grover.
In addition, High Tide announces the grant of 60,000 incentive stock options (the "Options") and 50,000 in cancellations to various employees, consultants and management of the Company. Each Option is exercisable at the closing price of the Company's common shares listed on the TSX Venture Exchange (the "TSXV") based on the last trading day immediately prior to this press release, which expires three years from the date of grant, and vests over a two-year period. Each Option is exercisable to purchase one common share of the Company and are being issued pursuant to the terms of the Company's Omnibus Plan, which became effective on June 2, 2022.
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.
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 the number of future stores communicated, and our other future projects. 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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