High Tide Announces the Opening of its Ninth Canna Cabana Store

Published: February 22, 2019

High Tide Announces the Opening of its Ninth 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, today announced that it has been licensed to open its ninth Canna Cabana retail store, which is located at #105, 330 10th Street NW in Calgary, Alberta. The Kensington Store has been converted from a Smoker’s Corner location and is now the first franchised Canna Cabana outlet in the High Tide network. Having met all municipal business requirements, the Kensington 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 remains in effect.

The re-opening of the Kensington Store under the Canna Cabana brand marks an exciting transition for the neighbourhood, the franchisee and the Company. “As a top-tier commercial location in a lively area of Calgary, being able to sell smoking accessories and cannabis lifestyle products while waiting for the AGLC’s Moratorium to be lifted is a welcome development by the City of Calgary,” said Raj Grover, President and Chief Executive Officer of High Tide. “Having the only approved and released development permit on 10th Street NW is a significant achievement for both our franchisee and for High Tide. We look forward to being a playful, approachable and responsible retailer of recreational cannabis in Kensington for a long time,” added Mr. Grover. The Smoker’s Corner store in Kensington originally opened in 2010 and was franchised in 2017. Over time, it has become a key part of the vibrant community on 10th Street NW.

High Tide has also closed the acquisition of a retail cannabis location in the Bowness neighbourhood of Calgary and has entered into a lease as part of the transaction, which has a development permit approved and released by the City of Calgary associated with the location. The Company now has 34 development permits for its Canna Cabana and KushBar retail cannabis stores across Alberta and expects to receive the three 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 continues to advance its next 25 Canna Cabana locations, which are under various stages of development and construction.

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