/NOT FOR DISTRIBUTION TO NEWSWIRE SERVICES IN THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS./
CALGARY, April 20, 2020 /CNW/ – 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 the Canna Cabana retail cannabis store located at 10275 Jasper Avenue in Edmonton, Alberta (the “Jasper Avenue Store”) opened on Saturday, April 18, 2020. Jasper Avenue is the main thoroughfare across Edmonton’s downtown core, which is a major public transit route supported by countless retail, dining and entertainment options. The Jasper Avenue Store is the newest Canna Cabana location to serve Edmonton and its population of nearly one million people.
The Jasper Avenue Store began as a Smoker’s Corner franchise that was acquired by High Tide in 2019 for its prime location and established customer base. “Edmonton has been one of the strongest markets for Canna Cabana stores since legalization and we have been eager to open this landmark location to serve the thriving community of Jasper Avenue. Our team has worked tirelessly to prepare the Jasper Avenue Store for opening on the 4/20 weekend. High Tide is focused on sustainable growth and the achievement of profitability in the near term and opening prime locations like Jasper Avenue will help us accomplish exactly that,” said Raj Grover, President & Chief Executive Officer. High Tide continues to monitor the COVID-19 situation closely, while respecting the orders and guidance of public health and other government officials, as it operates its retail and wholesale business segments both locally and abroad.
About High Tide Inc.
High Tide is an Alberta-based, retail-focused cannabis company 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 Canna Cabana Inc., KushBar Inc., Grasscity.com, Smoker’s Corner Ltd., RGR Canada Inc. and Famous Brandz Inc. High Tide’s 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) and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).
With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc. and its 29 branded stores is a sizeable retail business with a sophisticated yet playful customer experience. KushBar Inc. is a second retail cannabis business with 2 operating stores in Alberta, offering a modern experience aimed at the Company’s growing customer base in Alberta. Based in Amsterdam since 2000, Grasscity.com is the world’s preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. Representing the core of High Tide’s wholesale segment, 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.