CALGARY, May 9, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HITIF) (FRA:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has been licensed to open its next two Canna Cabana retail stores, which are located at Unit A, 10310 100 Avenue in Fort Saskatchewan, Alberta (the “Fort Saskatchewan Store”) and at 5022 50 Street in Lacombe, Alberta (the “Lacombe Store”) (collectively, the “New Stores”). Having met all municipal business requirements, the New Stores are 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.
The City of Fort Saskatchewan, which is located approximately 25 kilometres northeast of Edmonton, Alberta, has a growing population currently in excess of 25,000 people with an economy rooted in the dynamic petrochemical sector. “The Fort Saskatchewan Store will provide this neighbouring community of Edmonton with an exciting location to interact with Canna Cabana staff, learn about cannabis and otherwise meet their retail needs,” said Raj Grover, President and Chief Executive Officer of High Tide. Located approximately 25 kilometres north of Red Deer, Alberta, the City of Lacombe is a growing community of about 13,000 people that is known for its downtown core featuring 40 murals that depict its rich history. “The Lacombe Store strengthens Canna Cabana’s position in central Alberta and is a strong fit with the forward-thinking agricultural community,” added Mr. Grover. The New Stores continue to demonstrate High Tide’s ability to execute in the rapidly growing cannabis industry.
The Company currently has 36 of the 37 effective maximum number of development permits established by the AGLC for 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 23 Alberta locations that are under various stages of development and construction. In Ontario, two Canna Cabana-branded retail cannabis locations in Hamilton and Sudbury were opened on April 20th and both are performing strongly in each market, with the next branded location in downtown Toronto expected to open on or before June 1, 2019. In Saskatchewan, the Company is progressing through the last steps to complete two pending retail cannabis acquisitions. Lastly, across Alberta, British Columbia and Nova Scotia the Company has 13 Smoker’s Corner accessories shops, of which five are corporately owned and eight are franchises.