High Tide Opens Two New Canna Cabana Locations in Ontario and Alberta

Rhea-AI Summary

High Tide Inc. (Nasdaq: HITI) has announced the opening of two new Canna Cabana retail cannabis stores in Brantford, Ontario and Calgary, Alberta. The Brantford location, a former Tokyo Smoke store, opens on May 20, 2025, in the Brantford Commons plaza serving 110,000+ people. The Calgary West Springs location opens May 23, 2025, with no competitors within 4km radius, serving 46,000+ residents. These openings bring High Tide's total store count to 199 Canna Cabana locations across Canada, with 82 in Ontario and 86 in Alberta. High Tide continues its strategic expansion, approaching the milestone of 200 stores. The company, ranked as Canada's second-largest cannabis retailer by store count, operates multiple e-commerce platforms and brands including Grasscity.com, Queen of Bud, and Cabana Cannabis Co.

Positive

• Expansion to 199 total store locations across Canada, nearing 200-store milestone
• Strategic location in Brantford Commons plaza with national co-tenants and limited competition
• Calgary location has no competitors within 4km radius, serving 46,000+ residents
• Company consistently recognized as one of Canada's Top Growing Companies by Globe and Mail
• Second-largest cannabis retailer globally by store count

Negative

• Significant investment required for rapid expansion
• Dependence on physical retail locations in competitive cannabis market
• Potential market saturation risks in certain regions

Insights

Retail Expansion Strategist

High Tide's two new strategic cannabis stores in underserved markets bolster growth toward 200-location milestone.

High Tide's announcement of two new Canna Cabana locations in Brantford, Ontario and West Springs, Calgary represents strategic market penetration that deserves investor attention. The Brantford location exhibits particularly strong potential - situated in a shopping plaza with national grocery chains, liquor stores, and a cinema as co-tenants, while facing limited local competition. This provides an excellent foundation to capture market share in a city of 110,000+ residents.

The West Springs location demonstrates even more compelling competitive positioning. Located in a rapidly growing area of Calgary, this store faces no direct competitors within a 4-kilometer radius encompassing over 46,000 residents - an enviable competitive moat in cannabis retail. The nearby fast-food establishments and liquor store create natural retail synergies that should drive foot traffic.

These openings bring High Tide to 199 total locations (82 in Ontario, 86 in Alberta), positioning the company just one store away from the significant 200-location milestone. This continued organic expansion demonstrates management's commitment to reinvesting profits into high-potential markets rather than simply consolidating existing operations.

CEO Raj Grover's emphasis on stores "currently under construction" signals a robust pipeline of additional locations, suggesting the company's expansion velocity remains strong. High Tide's approach of securing prime retail positions with national co-tenants while targeting areas with limited competition shows disciplined site selection that should translate to stronger store-level economics than competitors with less strategic real estate.

CALGARY, AB, May 20, 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 300 King George Road in Brantford, Ontario, will begin selling recreational cannabis products and consumption accessories for adult use on May 20, 2025, and that its Canna Cabana retail cannabis store located at 722 85th Street SW in Calgary, Alberta, will begin selling recreational cannabis products and consumption accessories for adult use on May 23, 2025. These openings bring High Tide's total store count to 199 Canna Cabana locations across Canada, 82 in the province of Ontario and 86 in the province of Alberta.

BRANTFORD, ON LOCATION

This former Tokyo Smoke location resides in the Brantford Commons shopping plaza, providing a strong foundation to serve a population of over 110,000 people. It marks Canna Cabana's first location in Brantford and benefits from major co-tenants, including multiple national grocery chains, two liquor stores, and a cinema. With relatively limited competition in the immediate area, this destination on the northeast end of Brantford is a prime location for Canna Cabana to establish itself as a leader in the town's cannabis market.

WEST SPRINGS, AB LOCATION

This new Canna Cabana retail store is located on the west end of Calgary along Old Banff Coach Road, strategically situated in a rapidly growing area surrounded by new and developing residential neighborhoods. The site is positioned within a bustling shopping plaza that includes prominent co-tenants such as a liquor store and a variety of fast-food restaurants. Notably, there are no competitors within a 4-kilometers radius of this new location—which encompasses a population of over 46,000 residents—offering the Company a strong opportunity for market capture and growth.

"We continue to strategically reinvest our profits to expand High Tide's bricks-and-mortar footprint in markets where we see strong, long-term potential. Our newest stores in Brantford and Calgary are great examples of this approach in action. The Brantford location gives us a foothold in a well-established retail plaza with national co-tenants, while our West Springs store benefits from extremely favourable competitive demographics, with no direct competition for over four kilometers," said Raj Grover, Founder and Chief Executive Officer of High Tide.

"Our team is working hard to accelerate our store rollout as we close in on the significant milestone of 200 Canna Cabana locations across Canada. We have many more exciting, organically sourced locations currently under construction, which we look forward to announcing throughout the remainder of the calendar year." added Mr. Grover.

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 and is the second-largest cannabis retailer globally by store count¹. 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 199 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.

_____________________________

1 As reported by ATB Capital Markets based on store counts as of February 6, 2025

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, and our commitment to opening the number of future stores on the timeline indicated herein. 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-two-new-canna-cabana-locations-in-ontario-and-alberta-302459636.html

SOURCE High Tide Inc.

FAQ

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

High Tide operates 199 Canna Cabana locations across Canada, with 82 stores in Ontario and 86 in Alberta.

When will the new High Tide (HITI) stores in Brantford and Calgary open?

The Brantford, Ontario location opens on May 20, 2025, and the Calgary, Alberta location opens on May 23, 2025.

What is the competitive advantage of High Tide's new Calgary West Springs location?

The Calgary West Springs location has no competitors within a 4-kilometer radius and serves a population of over 46,000 residents.

What is High Tide's (HITI) current ranking in the cannabis retail industry?

High Tide is the second-largest cannabis retailer globally by store count, according to ATB Capital Markets.

Where is High Tide's new Brantford location situated and what is its market potential?

The Brantford location is situated in the Brantford Commons shopping plaza, serving a population of over 110,000 people, with major co-tenants including national grocery chains, liquor stores, and a cinema.