High Tide Opens New Cannabis Retail Store in Toronto
High Tide Inc. announced the opening of its 81st retail cannabis store in Toronto, Ontario, marking a milestone in its expansion strategy. This new Canna Cabana location is part of the company's commitment to operate 30 branded stores in Ontario by September 2021. Following a record month in March with eight new openings, High Tide aims to bolster its market presence while pursuing strategic acquisitions in Canada, the U.S., and Europe. The company is the largest Canadian cannabis retailer by revenue, emphasizing a one-stop shopping model for cannabis and accessories.
- Opened 81st branded retail location in Toronto, enhancing market presence.
- Record-breaking expansion with eight new locations opened in March 2021.
- Plans to operate 30 stores across Ontario by September 2021.
- Strong commitment to organic growth and strategic acquisitions in Canada and abroad.
- None.
CALGARY, AB, April 7, 2021 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (TSXV: HITI) (OTCQB: HITIF) (FRA:2LY), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced today that its new Canna Cabana retail store, located at 720 King Street West, Unit 155, in Toronto, Ontario, has begun selling recreational cannabis products for adult use. The new store represents High Tide's 81st branded retail location across Canada, and 16th in Ontario, selling recreational cannabis products and consumption accessories. The new Toronto store follows a record-breaking month in which High Tide opened eight new locations in March alone. The new store is situated within a popular commercial plaza near Toronto's high traffic King and Bathurst intersection, and is close to major public transit lines.
"High Tide is committed to having 30 branded retail stores across Ontario by September of this year. We will ensure that all new locations are located within premium retail corridors and will continue to follow our differentiated one stop cannabis shop model for our customers cannabis and consumption accessory needs at unbeatable prices," said Raj Grover, President and Chief Executive Officer of High Tide. "Coupled with the ongoing pursuit of strategic acquisition targets in Canada, the United States and Europe, organic growth remains a core element of our business growth strategy," 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 largest Canadian retailer of recreational cannabis as measured by revenue, with 81 branded retail locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment features the Canna Cabana, KushBar, 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 numerous consumption accessory businesses including e-commerce platforms Grasscity.com, Smokecartel.com and CBDcity.com, and 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 Aphria Inc. (TSX:APHA) (NYSE:APHA) and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).
Neither the TSX Venture Exchange (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.
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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