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 40 Great Plains Road, Emerald Park, Saskatchewan will begin selling recreational cannabis products and consumption accessories for adult use on Saturday, June 29. Additionally, its store located at 122 4 Avenue West, Cochrane, Alberta, will open on Sunday, June 30. These openings will mark High Tide’s 175th and 176th Canna Cabana locations in Canada.
Emerald Park is situated just east of Regina. Established in the 1980s, this full-service community features large estate homes surrounded by many parks and recreation facilities. This brand-new Canna Cabana opens in a fully built-out former retail cannabis store, with high visibility and access from the Trans-Canada highway.
Cochrane is a rapidly growing community just outside of Calgary. The town has a 5-year growth rate of 34.31%, a median household income of $127,000, and a one-year business growth rate of 7.20%. Canadians and international tourists come to Cochrane on their way to Banff National Park, visiting the many small businesses and national chains along Main Street.
“I am pleased to announce the opening of two new Canna Cabana stores, one of which is our 175th location in Canada. These new store openings showcase the continued momentum we are generating from taking over leases of fully built cannabis locations as many of our publicly traded and private competitors continue to go out of business. This saves our company time, money and other resources while continuing to propagate the Canna Cabana brand in communities across the country,” said Raj Grover, Founder and Chief Executive Officer of High Tide.
“With 14 new locations announced since the beginning of this year, we remain on target to reach our communicated goal of adding 20 to 30 new Cabanas by the end of this calendar year. Given our strong free cash flow profile, we plan to continue our brisk greenfield trajectory, which may be supplemented by additional M&A in the second half of this year. I’m excited about how our innovative discount club model is continuing to outperform our peers, and we are confident our market share will increase as our retail expansion picks up steam,” 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 176 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.
