High Tide Opens New Canna Cabana Location in Drayton Valley, Alberta

Rhea-AI Summary

High Tide Inc. (Nasdaq: HITI) has opened a new Canna Cabana retail cannabis store in Drayton Valley, Alberta, marking its 203rd location in Canada and 88th in Alberta. The store is strategically located at 4341 50 Street in a bustling plaza alongside national retailers.

The company announced significant membership growth with Cabana Club exceeding 2 million members and ELITE surpassing 100,000 members. Additionally, High Tide granted 58,500 incentive stock options to employees, exercisable at the TSXV closing price with a three-year expiration and two-year vesting period.

Positive

• Expansion to 203 total stores across Canada, showing strong growth
• Strategic location in high-traffic area with limited competition
• Significant membership growth with over 2 million Cabana Club members
• ELITE membership program surpassed 100,000 members

Negative

• None.

CALGARY, AB, July 31, 2025 /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 4341 50 Street in Drayton Valley, Alberta, has begun selling recreational cannabis products and consumption accessories for adult use as of today, July 31, 2025. This opening brings High Tide's total store count to 203 Canna Cabana branded locations across Canada and 88 in the province of Alberta.

Drayton Valley is a thriving oil and gas community with a rapidly growing population and strong local economy. Ideally positioned on the south end of Drayton Valley's town center, the store is set within a bustling plaza alongside a national grocery chain, a pharmacy, and multiple fast-food options. With excellent visibility on the central road that runs through town and well distanced from existing competitors, this new store is perfectly placed to serve the community's growing demand.

"We're thrilled to be bringing the Canna Cabana experience to Drayton Valley as we continue to deepen our presence across Alberta. This vibrant, fast-growing community is exactly the kind of market we look for—where demand is rising and Canna Cabana can make an immediate impact. With more exciting locations on the way nationwide, our momentum isn't slowing down anytime soon," said Raj Grover, Founder and Chief Executive Officer of High Tide.

"Our explosive growth in Cabana Club and ELITE memberships—now surpassing 2 million and 100,000 respectively—is a direct result of our disciplined expansion into high-value markets. As we rapidly advance toward our goal of 300 Cabanas, I have no doubt that hitting 3 million Cabana Club members is well within our sights. And with the strong year-over-year momentum we're building, we believe ELITE is only beginning to show its true potential," added Mr. Grover.

Employee Stock Options Grant

In addition, High Tide announces the grant of 58,500 incentive stock options (the "Options") to various employees of the Company. Each Option is exercisable at the closing price of the Company's common shares listed on the TSX Venture Exchange (the "TSXV") based on the last trading day immediately prior to this press release, expires three years from the date of grant, and vests over a two-year period. Each Option is exercisable to purchase one common share of the Company and are being issued pursuant to the terms of the Company's Omnibus Plan, which became effective on June 2, 2022.

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:

Bricks & Mortar Retail: Canna Cabana™ is the largest cannabis retail chain in Canada, with 203 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and growing. In 2021, Canna Cabana became the first cannabis discount club retailer in the world.

Retail Innovation: Fastendr™ is a unique and fully automated technology that employs retail kiosks to facilitate a better buying experience through browsing, ordering and pickup.

Consumption Accessories: High Tide operates a suite of leading accessory e-commerce platforms across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.

Brands: High Tide's industry-leading and consumer-facing brand roster includes Queen of Bud™, Cabana Cannabis Co™, Daily High Club™, Vodka Glass™, Puff Puff Pass™, Dopezilla™, Atomik™, Hue™, Evolution™ and more.

CBD: High Tide continues to cultivate the possibilities of consumer CBD through Nuleafnaturals.com, FABCBD.com, blessedcbd.de and blessedcbd.co.uk.

Wholesale Distribution: High Tide keeps that cannabis category stocked with wholesale solutions via Valiant™.

Licensing: High Tide continues to push cannabis culture forward through fresh partnerships and license agreements under the Famous Brandz™ name.

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 2024 for the fourth consecutive year and was recognized as a top 50 company by the TSX Venture Exchange 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 TSX Venture Exchange 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 our new locations beginning to sell recreational cannabis products and consumption accessories for adult use, the expected benefits of the store locations, the level of competition in the area, our commitment to opening the number of future stores on the timeline indicated herein, and our ability to reach our stated goals of 300 stores and 3 million Cabana Club members. 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.

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SOURCE High Tide Inc.

FAQ

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

High Tide now operates 203 Canna Cabana locations across Canada, with 88 stores specifically in Alberta.

Where is High Tide's new Canna Cabana store located in Drayton Valley?

The new store is located at 4341 50 Street in Drayton Valley, Alberta, positioned in a plaza alongside a national grocery chain, pharmacy, and fast-food options.

How many members does High Tide's Cabana Club and ELITE program have?

High Tide's Cabana Club has over 2 million members, while their ELITE program has surpassed 100,000 members.

What is High Tide's (HITI) store expansion goal?

High Tide aims to reach 300 Canna Cabana store locations and is targeting 3 million Cabana Club members.

What employee stock options did High Tide (HITI) announce?

High Tide granted 58,500 incentive stock options to employees, exercisable at the TSXV closing price, with a three-year expiration and two-year vesting period.