High Tide Opens New Canna Cabana in Scarborough, Ontario

Rhea-AI Summary

High Tide (Nasdaq: HITI) opened a new Canna Cabana store at 3148 Kingston Road in Scarborough, Ontario on February 9, 2026, bringing the chain to 219 locations in Canada and 95 in Ontario. The site is on a high‑traffic corridor with limited nearby cannabis competition.

The company also granted 145,500 stock options at $3.22 exercisable until February 6, 2029, and 1,300,530 RSUs with staged vesting through February 6, 2029; 795,106 RSUs were granted to directors as a related‑party transaction exempt under MI 61‑101.

Positive

• Canna Cabana network reaches 219 stores nationally
• 95 stores now operating in Ontario
• Location on Kingston Road offers high visibility and limited competition

Negative

• Directors received 795,106 RSUs, a related‑party transaction under MI 61‑101
• Company did not file a MI 61‑101 material change report >21 days before RSU grant

News Market Reaction – HITI

+2.98%

6 alerts

+2.98% News Effect

+$6M Valuation Impact

$219.16M Market Cap

0.3x Rel. Volume

On the day this news was published, HITI gained 2.98%, reflecting a moderate positive market reaction. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $6M to the company's valuation, bringing the market cap to $219.16M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Canna Cabana stores: 219 locations Ontario stores: 95 locations Stock options granted: 145,500 options +5 more

8 metrics

Canna Cabana stores 219 locations Total domestic store count across Canada after Scarborough opening

Ontario stores 95 locations Canna Cabana locations in the province of Ontario

Stock options granted 145,500 options Employee and consultant grants under Omnibus Plan

Option exercise price $3.22 per share Exercise price for new stock options, expiring February 6, 2029

RSUs granted 1,300,530 RSUs Grants to directors, officers, employees and consultants

Director RSUs 795,106 RSUs Aggregate RSUs granted to directors, triggering MI 61-101 review

Canadian market share 12% Share of Canadian cannabis retail market across five provinces

Cabana Club members 2.4M members Canadian Cabana Club membership, including 139,000 ELITE

Market Reality Check

Price: $2.26 Vol: Volume 384,373 is 0.77x t...

normal vol

$2.26 Last Close

Volume Volume 384,373 is 0.77x the 20-day average of 502,066, suggesting a modest participation level ahead of this news. normal

Technical Shares at $2.35 trade below the 200-day MA of $2.73 and sit about 42.05% under the 52-week high of $4.06.

Peers on Argus

HITI was up 3.52% while key peers were mixed: WGRX -10.09%, PETS -4%, SCNX +11.0...

HITI was up 3.52% while key peers were mixed: WGRX -10.09%, PETS -4%, SCNX +11.07%, HKPD +0.85%, SSY +9.31%. The lack of a unified direction points to stock-specific drivers rather than a broad sector move.

Historical Context

5 past events · Latest: Jan 29 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 29	Earnings results	Positive	-2.0%	Record Q4 and 2025 revenue and adjusted EBITDA with strong cash flow.
Jan 09	Earnings date notice	Neutral	-0.8%	Announcement of timing for Q4 and full-year 2025 results and webcast.
Dec 23	Corporate milestones	Positive	+0.0%	Recap of 2025 growth metrics, store expansion, and German entry via Remexian.
Dec 22	Conference participation	Positive	+1.1%	Participation in ICR Conference to showcase retail platform and momentum.
Dec 18	Policy and IR update	Positive	+1.1%	Response to U.S. cannabis policy shift and reengagement of IR agency.

Pattern Detected

Recent news often skews positive, but reactions have been mixed, with some record results and milestone updates seeing flat or negative next-day moves.

Recent Company History

Over recent months, High Tide has highlighted steady operational progress, including record Q4 and fiscal 2025 results on Jan 29, 2026, continued free cash flow generation, and expansion of its Canna Cabana network to 218 stores. Earlier updates in December 2025 emphasized milestone recaps, participation in the ICR investor conference, and supportive U.S. cannabis policy developments. Today’s store opening and equity awards build on that expansion narrative by adding another Ontario location and updating long-term incentive compensation.

Market Pulse Summary

This announcement combines incremental retail expansion with long-term incentive updates. High Tide ...

Analysis

This announcement combines incremental retail expansion with long-term incentive updates. High Tide added a new Scarborough location, bringing Canna Cabana to 219 Canadian stores and 95 in Ontario, while granting 145,500 stock options at $3.22 and 1,300,530 RSUs under its Omnibus Plan. Investors may focus on how added locations support revenue growth, the vesting schedule and scale of equity awards, and ongoing execution relative to recent record financial results and free cash flow generation.

Key Terms

stock options, restricted stock units, omnibus plan, multilateral instrument 61-101, +4 more

8 terms

stock options financial

"The Company also announces that it has granted options to purchase an aggregate of 145,500 common shares"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

restricted stock units financial

"The Company also granted an aggregate of 1,300,530 restricted stock units of the Company (the "RSUs")"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

omnibus plan financial

"All Stock Options and RSUs were granted in accordance with the Company's Omnibus Plan"

An omnibus plan is a single, broad employee compensation program that groups together different types of pay awards — such as stock options, restricted shares, cash bonuses and other incentives — under one set of rules and administration. Think of it as a single toolbox that lets a company give and track many kinds of employee pay from one place; investors care because it affects potential share dilution, how executive incentives are structured, and the size and timing of compensation expense.

multilateral instrument 61-101 regulatory

"represents a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders"

Multilateral Instrument 61-101 is a securities regulation that sets rules for certain corporate deals—like mergers, asset sales, or related-party transactions—to protect minority shareholders by requiring extra disclosure, independent valuation and, in many cases, formal shareholder approval. Think of it as an impartial referee and checklist that forces companies to show the full playbook and get a vote or an independent price opinion, so investors can judge whether a proposed deal is fair and avoid being overridden by insiders.

related-party transaction regulatory

"granting of RSUs represents a related-party transaction under Multilateral Instrument 61-101"

A related-party transaction is a deal, payment or transfer of value between a company and people or entities closely connected to its managers, directors or major owners—think of a business hiring a company owned by the CEO’s sibling. Investors care because such deals can be biased, overprice goods or hide conflicts of interest, affecting profits and trust; clear disclosure and fair terms help ensure the company is run in shareholders’ best interest.

minority shareholder approval regulatory

"exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101"

Minority shareholder approval is when holders of a smaller portion of a company's shares must give consent before certain major actions can proceed, such as mergers, asset sales, or changes to voting rules. It matters to investors because it gives smaller owners a protective veto or negotiating leverage against actions pushed by controlling shareholders, similar to a few roommates needing to agree before making a big change to shared living space; this can affect deal completion, price and legal risk.

material change report regulatory

"The Company did not file a material change report related to the RSUs more than 21 days before the grant"

A material change report is a public notice that a company must file and share whenever new information or an event is significant enough to likely influence an investor’s decision. Think of it like an urgent update board that tells shareholders about big shifts—such as major deals, leadership changes, sudden losses, or legal issues—so investors can reassess risk and value with the same facts everyone else has.

forward-looking statements regulatory

"This press release may contain "forward-looking information" and "forward-looking statements within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. Not financial advice.

CALGARY, AB, Feb. 9, 2026 /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 today that its Canna Cabana retail cannabis store located at 3148 Kingston Road in Scarborough, Ontario, began selling recreational cannabis products and consumption accessories for adult use today on February 9, 2026. This opening brings High Tide's total store count to 219 Canna Cabana locations across Canada and 95 in the province of Ontario.

This new Canna Cabana location in Scarborough is strategically located along Kingston Road, a major east–west thoroughfare with strong visibility and high daily traffic volumes. The store serves an immediate trade area with limited nearby cannabis competition and benefits from convenient access to surrounding residential neighbourhoods. Previously occupied by Rockwood Cannabis, which performed well in this market, the location offers a proven foundation for continued success.

"This store opening reflects our continued focus on disciplined expansion and our commitment to opening locations that meet our strict financial and operational criteria," said Raj Grover, Founder and Chief Executive Officer of High Tide. "Situated in a dense and growing neighbourhood, this location represents a compelling opportunity to further strengthen our Ontario footprint through a well-positioned site with a strong history of retail performance."

"We look forward to welcoming this store into the Canna Cabana network and leveraging our proven operating model, pricing leadership, and loyalty ecosystem to drive incremental performance," added Mr. Grover.

Grant of Options and RSUs

The Company also announces that it has granted options to purchase an aggregate of 145,500 common shares of the Company (the "Stock Options") to certain employees and consultants of the Company. The Stock Options are exercisable at a price of $3.22 per share until February 6, 2029, and vest over two years.

The Company also granted an aggregate of 1,300,530 restricted stock units of the Company (the "RSUs") to certain directors, officers, employees and consultants of the Company. 48% of the RSUs vest on February 6, 2027, 26% on February 6, 2028 and the remaining 26% on February 6, 2029. Each RSU entitles the holder to acquire one common share of the Company upon vesting.

All Stock Options and RSUs were granted in accordance with the Company's Omnibus Plan, which became effective on June 2, 2022. The common shares underlying the Stock Options and RSUs set out above are subject to a statutory four month and one day hold period, and such further restrictions as may apply under foreign securities laws.

As directors of the Company received an aggregate of 795,106 RSUs, the granting of RSUs represents a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The participation of the related parties of the Company is exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(a) and 5.7(1)(1) of MI 61-101, as neither the fair market value of the subject matter of the transaction, nor the consideration, exceed 25% of the Company's market capitalization. The Company did not file a material change report related to the RSUs more than 21 days before the grant as required by MI 61-101 but believes that this shorter period is reasonable and necessary in the circumstances.

ABOUT HIGH TIDE

High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. Its wholly owned subsidiary, Canna Cabana, is the second-largest cannabis retail brand globally. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including:

Retail: Canna Cabana™ is the largest cannabis retail chain in Canada, with 219 domestic locations. The Company's Canadian bricks-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario, holding a growing 12% share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. The Company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived CBD products.

Medical Cannabis Distribution: Remexian Pharma GmbH is a leading German pharmaceutical company built for the purpose of importation and wholesale of medical cannabis products at affordable prices. Among all German medical cannabis procurers, Remexian has one of the most diverse reaches across the globe and is licensed to import from 19 countries including Canada.

High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies by the Globe and Mail's Report on Business in 2025 for the fifth consecutive year and was recognized as a top 50 company by the TSX Venture Exchange (the "TSXV") in 2022, 2024 and 2025. High Tide was also ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023. To discover the full impact of High Tide, visit www.hightideinc.com. For investment performance, don't miss the High Tide profile pages on SEDAR+ and EDGAR.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION

Media Inquiries
Carter Brownlee
Communications and Public Affairs Advisor
High Tide Inc.
cbrownlee@hightideinc.com
403-770-3080

Investor Inquiries
Vahan Ajamian
Capital Markets Advisor
High Tide Inc.
vahan@hightideinc.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain "forward-looking information" and "forward-looking statements within the meaning of applicable securities legislation. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking statements herein include, but are not limited to, statements regarding: the timing of the new locations opening and beginning to sell recreational cannabis products and consumption accessories for adult use; the expected benefits of the store locations; and the level of competition in the area. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including but not limited to the risk factors discussed under the heading "Non-Exhaustive List of Risk Factors" in Schedule A to our current annual information form, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca and www.sec.gov, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/high-tide-opens-new-canna-cabana-in-scarborough-ontario-302682125.html

SOURCE High Tide Inc.

FAQ

When did High Tide (HITI) open the new Canna Cabana in Scarborough, Ontario?

The store opened on February 9, 2026. According to the company, it began selling recreational cannabis and accessories that same day, adding to the national Canna Cabana footprint and serving a high‑traffic Kingston Road trade area.

How many Canna Cabana stores does High Tide (HITI) now operate in Canada and Ontario?

High Tide operates 219 Canna Cabana stores in Canada and 95 in Ontario. According to the company, the Scarborough opening is included in those totals and expands its retail reach in a dense residential market.

What equity compensation did High Tide (HITI) grant on February 6, 2026?

The company granted 145,500 stock options at $3.22 and 1,300,530 RSUs with staged vesting through February 6, 2029. According to the company, the awards were granted under its Omnibus Plan and include statutory hold periods.

What are the vesting terms for the RSUs granted by High Tide (HITI)?

RSUs vest 48% on Feb 6, 2027, 26% on Feb 6, 2028, and 26% on Feb 6, 2029. According to the company, each RSU converts to one common share upon vesting and is subject to a four‑month plus one‑day hold period.

Why are the RSU grants to directors considered a related‑party transaction for HITI?

Directors received an aggregate of 795,106 RSUs, creating a related‑party transaction under MI 61‑101. According to the company, exemptions applied because the value did not exceed 25% of market capitalization.

Did High Tide (HITI) meet MI 61‑101 reporting timelines for the RSU grants?

The company did not file a material change report more than 21 days before the RSU grant. According to the company, it believes the shorter period was reasonable and necessary under the circumstances.