CALGARY, AB, /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company“) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced that its Canna Cabana retail cannabis store located at 5700 Mavis Road, Mississauga, Ontario will begin selling recreational cannabis products and consumption accessories for adult use. This opening will mark High Tide’s 162nd Canna Cabana branded location in Canada, the 54th in the province of Ontario and the first in Mississauga.
In April 2023, High Tide spearheaded efforts, which resulted in Mississauga’s City Council approving a motion to allow legal retail cannabis stores to open within its borders. As the third-largest municipality in Ontario and seventh-largest in Canada, this brand-new market is home to over 800,000 residents and affords an excellent growth opportunity to onboard new ELITE and Cabana Club members. This Canna Cabana is opening right next to the entrance of Heartland Town Centre, a major retail power centre and one of the largest in the province. This store is also within walking distance of an international member-only grocery and retail chain, a major Canadian home improvement and automotive service retailer and other high-traffic big-box retail stores. In addition, the closest legal cannabis retail competitor is over 2 kilometres away.
“We ended 2022 with a flurry of store openings, and I am thrilled that the close of 2023 is much of the same. I have eagerly awaited the opening of our first Mississauga store, which I am confident will be a top performer based on the success we’ve had elsewhere in the Region of Peel as well as its premier location, which is steps away from Heartland Town Centre and situated among national retail chains. This location is yet another example of our team’s relentless dedication to securing the best possible lease opportunities,” said Raj Grover, Founder and Chief Executive Officer of High Tide.
“2023 was also a challenging year for many Canadian cannabis retailers, some of whom were forced into CCAA or branched off into other highly regulated markets. Unlike some of these peers, we have remained focused on our core cannabis business while maintaining our focus on operational excellence and retail innovation through our highly successful discount club model catering to over 1.2 million ELITE and Cabana Club members. I look forward to all that 2024 holds for High Tide as we set our sights on further expansion by celebrating another 20 to 30 new store openings, focused on Ontario, Canada’s largest province,” added Mr. Grover
SOURCE High Tide Inc.
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