High Tide Announces the Opening of its Eighth Canna Cabana Store

Published: February 15, 2019

High Tide Announces the Opening of its Eighth Canna Cabana Store

High Tide Inc., an Alberta-based downstream cannabis corporation focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, announced that it has opened its eighth Canna Cabana retail store, which is located at Unit #116, 5305 Magasin Avenue in the city of Beaumont, Alberta. Having met all municipal business requirements, the Beaumont Store is approved to sell smoking accessories and cannabis lifestyle products while the temporary suspension of incremental cannabis retail licensing by Alberta Gaming, Liquor and Cannabis (“AGLC”) remains in effect.

The opening of the Beaumont Store reaffirms High Tide’s ability to rapidly execute on its broad set of growth plans. “As the fifth fastest growing community in Canada, it was important for High Tide to establish a retail location in Beaumont. We will strive to quickly become a part of this Leduc County community and integrate the outlet into the local economy for the long term,” said Raj Grover, President and Chief Executive Officer of High Tide. “Our Canna Cabana employees can now begin to educate customers about cannabis and smoking accessories, accept Health Canada-approved cannabis product packaging through the free in-store recycling program and engage with this important community adjacent to southern Edmonton,” added Mr. Grover. Beaumont began as a French Colony in 1895 and has grown to become a dynamic city situated a short distance east of the Edmonton International Airport.

High Tide continues to advance its next 25 Canna Cabana locations, which are under various stages of construction. In total, the Company has 33 development permits for its Canna Cabana and KushBar retail cannabis stores across Alberta and expects to receive the four remaining development permits required to achieve the AGLC’s effective maximum of 37 retail cannabis locations in the province in the short-term. High Tide also recently announced that it has been selected to assist two winners of the Expression of Interest Lottery to apply for one of 25 cannabis-related Retail Operator Licences in Ontario, while maintaining approximately 20 conditional leases for future retail locations across that province. The Company is targeting having recreational cannabis stores in every province that permits privately-owned outlets, as further demonstrated by the recent signing of separate letters of intent to acquire two locations in Saskatchewan.