Largest Alberta-Based Cannabis Retailer Welcomes Legislation to Shift Cannabis E-Commerce to Private Sector

Published: November 8, 2021

Largest Alberta-Based Cannabis Retailer Welcomes Legislation to Shift Cannabis E-Commerce to Private Sector

High Tide Inc., the largest Alberta-based cannabis retailer, with 57 retail  cannabis stores currently operating provincewide, welcomes the Alberta Government’s proposed  Bill 80: the Red Tape Reduction Implementation Act, 2021 (No. 2). The Act, if passed, would  discontinue the provincially run e-commerce portal and transition online sales and home delivery of cannabis products to licensed private sector retailers within 90 days  of passage and proclamation. This follows recent moves by the governments of Ontario and  British Columbia to allow private sector participation in cannabis e-commerce and home delivery.

“Alberta has once again shown that it is a province that believes in the free market. Today’s  proposed legislation will, if passed, provide a shot in the arm to private sector cannabis retailers  who, for too long, have had to compete with a government owned entity in the e-commerce space  that also serves as their sole wholesale supplier,” said Raj Grover, President and Chief Executive  Officer of High Tide. “Licensed cannabis retailers have proven in other provinces that we can  operate online sales and home delivery in a safe and secure manner, allowing adults to have  timely access to the regulated and quality-controlled products that they want while ensuring that,  unlike illicit market operators, access to youth is strictly forbidden,” added Mr. Grover.

Grant of Options 
Furthermore, High Tide granted 100,000 stock options (the “Options”) to certain employees and  consultants, exercisable for a period of three years.

About High Tide Inc. 
High Tide is a leading retail-focused cannabis company with bricks and mortar as well as global  e-commerce assets. The Company is the largest Canadian retailer of recreational cannabis as  measured by revenue, with 103 current locations spanning Ontario, Alberta, Manitoba and  Saskatchewan, and was featured in the third annual Report on Business Magazine’s ranking of  Canada’s Top Growing Companies in 2021. The Company is also North America’s first and only  cannabis discount club retailer, featuring Canna Cabana, Meta Cannabis Co., Meta Cannabis  Supply Co. and NewLeaf Cannabis banners, with additional locations under development across  the country.