High Tide Announces the Opening of the 14th and 15th Canna Cabana Locations
(firmenpresse) - High Tide Announces the Opening of the 14th and 15th Canna Cabana Locations
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Calgary, AB, May 9, 2019 High Tide Inc. (High Tide or the Company) (CSE:HITI) (OTCQB:HITIF) (FRA:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has been licensed to open its next two Canna Cabana retail stores, which are located at Unit A, 10310 100 Avenue in Fort Saskatchewan, Alberta (the Fort Saskatchewan Store) and at 5022 50 Street in Lacombe, Alberta (the Lacombe Store) (collectively, the New Stores). Having met all municipal business requirements, the New Stores are approved to sell smoking accessories and cannabis lifestyle products while the temporary suspension of incremental cannabis retail licensing (the Moratorium) by Alberta Gaming, Liquor and Cannabis (the AGLC) remains in effect.
The City of Fort Saskatchewan, which is located approximately 25 kilometres northeast of Edmonton, Alberta, has a growing population currently in excess of 25,000 people with an economy rooted in the dynamic petrochemical sector. The Fort Saskatchewan Store will provide this neighbouring community of Edmonton with an exciting location to interact with Canna Cabana staff, learn about cannabis and otherwise meet their retail needs, said Raj Grover, President and Chief Executive Officer of High Tide. Located approximately 25 kilometres north of Red Deer, Alberta, the City of Lacombe is a growing community of about 13,000 people that is known for its downtown core featuring 40 murals that depict its rich history. The Lacombe Store strengthens Canna Cabanas position in central Alberta and is a strong fit with the forward-thinking agricultural community, added Mr. Grover. The New Stores continue to demonstrate High Tides ability to execute in the rapidly growing cannabis industry.
The Company currently has 36 of the 37 effective maximum number of development permits established by the AGLC for retail cannabis stores across Alberta and expects to receive the one remaining development permit in the near future. High Tide continues to advance its next 23 Alberta locations that are under various stages of development and construction. In Ontario, two Canna Cabana-branded retail cannabis locations in Hamilton and Sudbury were opened on April 20th and both are performing strongly in each market, with the next branded location in downtown Toronto expected to open on or before June 1, 2019. In Saskatchewan, the Company is progressing through the last steps to complete two pending retail cannabis acquisitions. Lastly, across Alberta, British Columbia and Nova Scotia the Company has 13 Smokers Corner accessories shops, of which five are corporately owned and eight are franchises.
About High Tide Inc.
High Tide is an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smokers Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. High Tides strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) (FRA: 21P) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).
Representing the core of High Tides business, RGR Canada Inc. is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Famous Brandz Inc. is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures. Famous Brandz products are sold to wholesalers and retailers around the world. Founded in 2009 and approved by the Canadian Franchise Association, Smokers Corner Ltd. is among Canadas largest counter-culture chains with 13 locations. Kush West Distribution is in the process of becoming a cannabis wholesaler in the province of Saskatchewan. Based in Amsterdam since 2000, Grasscity.com is the worlds preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc., with 13 currently-branded locations, is in the process of becoming a sizeable retail brand with a sophisticated yet playful customer experience, while KushBar Inc. is a retail concept that will also be focused on the valued Canadian cannabis consumer.
For more information about High Tide Inc., please visit www.hightideinc.com and its profile page on SEDAR at www.sedar.com.
Forward-Looking Information
Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as forward-looking statements are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as outlook, expects, intend, forecasts, anticipates, plans, projects, estimates, envisages, assumes, needs, strategy, goals, objectives, or variations thereof, or stating that certain actions, events or results may, can, could, would, might, or will be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan and that High Tide will receive one or multiple licenses from Alberta Gaming, Liquor & Cannabis, British Columbias Liquor Distribution Branch or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. and KushBar Inc. businesses. High Tide considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.
The forwardlooking statements contained herein are current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
SOURCE High Tide Inc.
For further information, please contact Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets at High Tide Inc.; Tel: (403) 265-4207; Email: Nick(at)HighTideInc.com; Web: www.HighTideInc.com.
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Datum: 09.05.2019 - 07:33 Uhr
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