High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis store located at 1949 Ravenscroft Road, Ajax, Ontario will begin selling recreational cannabis products and consumption accessories for adult use today. This opening will mark High Tide’s 170th Canna Cabana branded retail cannabis location in Canada, the 61st in the province of Ontario and the 2nd in Ajax.
Situated in the heart of the Durham Region on the shores of Lake Ontario, Ajax is a rapidly growing and diverse city. A short drive from Toronto, Ajax is a part of the Greater Toronto Area and is located off Highway 401, one of North America’s busiest transportation corridors. This brand-new Canna Cabana opens in Meadow Ridge Plaza, a large commercial development in the east end of the city. Anchor tenants include a major grocery store, internationally recognized quick-serve restaurants, Canada’s largest bulk foods retailer, a large beer retailer and a major Canadian discount retail chain. This prominent shopping node is also surrounded by future residential development and is beside a bustling thoroughfare through the city, ensuring new ELITE and Cabana Club members can stop in while running errands or on their commute home.
“I am thrilled to announce the opening of our second Canna Cabana in Ajax, Ontario. This opening builds on the success of our existing Ajax location, which is performing above our provincial average. We have taken the same approach to real estate selection for this new store and feel that this prime location is also positioned for success. The east end of the Greater Toronto area holds tremendous growth opportunity for the Canna Cabana brand, as we look to open more locations between Toronto and Ottawa,” said Raj Grover, Founder and Chief Executive Officer of High Tide.
“I am also very excited that with the opening of this new Ajax location, we now have 170 Cabanas operating across the country. As communicated to the market, after proving our strong free cash flow profile in calendar 2023, we have been accelerating growth in calendar 2024 and are on track to meet our disclosed target of adding 20 to 30 new stores this year, on the path to eventually reaching our long-term goal of 300 stores across the country,” added Mr. Grover.
About High Tide
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 in North America 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 non-franchised cannabis retail chain in Canada, with 170 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in North America.
