CALGARY, AB, Dec. 22, 2022 /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company“) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that its Canna Cabana retail cannabis store located at 6231 Bathurst Street in North York, Ontario has begun selling recreational cannabis products and consumption accessories for adult use and that its store located at 1225 St. Mary’s Rd, Winnipeg, Manitoba is scheduled to open tomorrow. These organic store openings bring the nationwide total of Canna Cabana bricks-and-mortar locations to 147.
Situated near a major Ontario-based grocer and a national pharmacy chain, the North York Canna Cabana is a short drive from York University’s Keele Campus, with a student population of approximately 52,000. This location is also located in one of the Greater Toronto Area’s most densely populated communities, including multiple high-rise condo buildings.
This Winnipeg store is located within the St. Vitals shopping mall, featuring major international retailers and is a dining and entertainment hub. It is also situated close to a main thoroughfare in Winnipeg, expanding Canna Cabana’s reach into thriving shopping centres.
“I am pleased to announce the opening of Canna Cabana stores in North York and Winnipeg. As I have said before, our retail strategy involves finding the best available real estate in high-traffic and high-population density areas, and both of these stores showcase our commitment to this strategy. This selective real estate approach has served us well, as demonstrated by the fact that our average per-store sales in Ontario are more than double the provincial average. We remain on track to announce several additional store openings before the end of this year, which will get us very close to, if not reaching, our goal of 150 stores across Canada by the end of 2022,” said Raj Grover, President and Chief Executive Officer of High Tide.
“We applaud Manitoba’s recent introduction of legislation that would if passed, eliminate the provincially mandated social responsibility fee. This move will make it easier for Manitoba cannabis retailers to compete with the illicit market, which is important for the continued growth of the legal cannabis sector within the province,” added Mr. Grover.
SOURCE High Tide Inc.
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