High Tide to Open New Canna Cabana in Toronto, Ontario

Rhea-AI Summary

High Tide (Nasdaq: HITI) plans to open a new Canna Cabana retail cannabis store at 150 Silver Reign Drive in Toronto's Rexdale area, expected to begin adult-use sales on May 17, 2026.

This location lifts Canna Cabana's footprint to 222 stores in Canada and 98 in Ontario, serving about 263,000 residents within five kilometres. Management highlights its discount-club retail model and Cabana Club loyalty ecosystem as key drivers for market share in Ontario and broader Canada.

AI-generated analysis. Not financial advice.

Key Figures

Total Canna Cabana stores (Canada): 222 locations Ontario Canna Cabana stores: 98 locations Local population: 263,000 residents +5 more

8 metrics

Total Canna Cabana stores (Canada) 222 locations Post-opening national Canadian footprint

Ontario Canna Cabana stores 98 locations Post-opening Ontario footprint

Local population 263,000 residents Residents within five kilometres of new Toronto store

Domestic Canna Cabana stores 222 locations Canadian bricks-and-mortar Canna Cabana footprint

International Canna Cabana stores 1 location International Canna Cabana presence

Canadian retail market share 12% Share of Canadian cannabis retail market for bricks-and-mortar

German medical cannabis share 14% Remexian Pharma share of German medical cannabis market

Import source countries 19 countries Countries Remexian is licensed to import medical cannabis from

Market Reality Check

Price: $2.41 Vol: Volume 344,395 vs 20-day ...

normal vol

$2.41 Last Close

Volume Volume 344,395 vs 20-day average 446,496 suggests no pre-news accumulation. normal

Technical Price 2.40 is trading below the 200-day MA of 2.76 and 40.82% below the 52-week high.

Peers on Argus

Momentum scanner shows mixed moves among peers, with HKPD down 4.94% and SCNX up...

1 Up 1 Down

Momentum scanner shows mixed moves among peers, with HKPD down 4.94% and SCNX up 7.30%, and no clear sector-wide direction. This points to stock-specific drivers for HITI.

Historical Context

5 past events · Latest: May 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
May 11	Insider share purchases	Positive	-1.2%	Insiders bought 90,882 shares and highlighted new $40M credit facility.
May 05	New credit facilities	Positive	-2.1%	Signed term sheet for $40M senior secured credit with Big 5 bank.
Apr 23	Trading review announcement	Negative	-7.0%	Company launched probe into potential manipulation of its common shares.
Apr 20	New store opening	Positive	+1.6%	Opened new Caledonia Canna Cabana store, lifting count to 221 in Canada.
Apr 13	Conference appearances	Neutral	+0.0%	Executives scheduled to present at multiple cannabis and investor conferences.

Pattern Detected

Recent positive corporate updates, including store openings and new credit facilities, were often followed by flat to negative next-day moves.

Recent Company History

Over the last two months, High Tide has focused on expansion and capital structure. It opened new Canna Cabana locations, taking the network to 221–222 Canadian stores, and signed a $40 million senior credit facilities term sheet with a Big 5 Canadian bank. Management also disclosed insider share purchases and record German medical cannabis distribution volumes via Remexian. Separately, the company announced steps to investigate potential share price manipulation. Today’s Toronto store opening continues the steady retail expansion theme seen in recent releases.

Market Pulse Summary

This announcement adds another step in High Tide’s retail buildout, with a new Toronto Canna Cabana ...

Analysis

This announcement adds another step in High Tide’s retail buildout, with a new Toronto Canna Cabana expected to lift the Canadian network to 222 locations and 98 in Ontario. The store targets a dense trade area of about 263,000 residents and complements the company’s broader 12% Canadian retail share and 14% German medical cannabis share. Investors may track how new stores contribute to revenue growth, profitability, and market share consolidation over time.

Key Terms

recreational cannabis, medical cannabis, hemp-derived cbd, discount club retailer

4 terms

recreational cannabis medical

"begin selling recreational cannabis products and consumption accessories for adult use"

Recreational cannabis is the use and sale of cannabis products by adults for enjoyment rather than for medical treatment. For investors it signals a consumer goods market similar to alcohol or tobacco: demand-driven sales, branding and retail distribution, plus taxes and licensing that can boost or squeeze profits. It matters because legal status, regulations and changing consumer trends determine market size, costs and investment risk.

medical cannabis medical

"Medical Cannabis Distribution: Remexian Pharma GmbH is a leading German pharmaceutical company"

Medical cannabis is the use of cannabis plant extracts or compounds such as THC and CBD as prescribed or recommended to treat symptoms or medical conditions. Think of it as a plant-based medicine that can relieve pain, nausea, muscle spasms or other symptoms where conventional drugs may not work; for investors it matters because legal status, clinical evidence, supply rules and insurance coverage determine market size, licensing value and revenue potential.

hemp-derived cbd medical

"e-commerce platforms offering accessories and hemp-derived CBD products"

Hemp-derived CBD is a non-psychoactive compound taken from hemp plants, used in oils, capsules, foods and topical products for potential calming or wellness effects. For investors it matters because products containing hemp-derived CBD sit at the intersection of consumer demand, tight regulation and supply-chain considerations—like betting on a new everyday commodity—so changes in rules, safety data or consumer trends can quickly affect sales and company valuations.

discount club retailer financial

"In 2021, Canna Cabana became the first cannabis discount club retailer in the world"

A discount club retailer is a store that sells goods at lower-than-usual prices by buying and moving large volumes, often offering membership access, bulk packaging, limited product variety and streamlined services — think of a big warehouse where you pay less per item by buying more at once. Investors watch these chains because steady membership fees, high sales volumes and low prices can create predictable cash flow and customer loyalty, but performance is sensitive to consumer spending, inventory costs and competition.

AI-generated analysis. Not financial advice.

CALGARY, AB, May 15, 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 150 Silver Reign Drive in Toronto, Ontario, is expected to begin selling recreational cannabis products and consumption accessories for adult use on May 17, 2026. This opening brings High Tide's total store count to 222 Canna Cabana locations across Canada and 98 in the province of Ontario.

This new Canna Cabana location in Toronto's Rexdale neighbourhood is strategically positioned within an established power centre, anchored by leading big-box retailers and co-located alongside national specialty chains and quick-service restaurants. The opening marks Canna Cabana's first entry into this trade area, with no other Canna Cabana locations nearby. The site serves a dense and growing community of more than 263,000 residents within five kilometres, supported by strong household income demographics, and is well positioned to welcome adult-use cannabis consumers from across Etobicoke and northwest Toronto.

"This new Rexdale location further strengthens our presence in the Greater Toronto Area and expands Canna Cabana into a high-density retail corridor with attractive long-term demand characteristics. We believe our differentiated discount-club model continues to resonate with consumers seeking value, convenience, and a broader loyalty-driven retail experience," said Raj Grover, Founder and Chief Executive Officer of High Tide.

"As we approach 100 stores in Ontario and 222 stores nationally, we continue to focus on profitable and disciplined expansion that enhances our competitive advantages and deepens our connection with consumers. We believe our differentiated retail model and growing Cabana Club ecosystem position us to further consolidate market share in Canada's largest cannabis market," 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. 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 222 domestic and 1 international location. 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. In 2025, the Company became the first North American cannabis operator to launch a bricks-and-mortar presence in Germany.

Medical Cannabis Distribution: Remexian Pharma GmbH is a leading German pharmaceutical company, with a 14% share of the German medical cannabis market, 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
Omar Khan
Chief Communications and Public Affairs Officer
High Tide Inc.
omar@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 news release contains "forward‑looking information" and "forward‑looking statements" within the meaning of applicable securities laws (collectively, "forward‑looking statements"). Forward‑looking statements are often, but not always, identified by words such as "expect", "intend", "plan", "believe", "anticipate", "estimate", "may", "will", "could", "should" and similar expressions. Forward‑looking statements in this news release include, without limitation, statements relating to: the expected timing of the opening of the new store and the commencement of sales at that location; the expected benefits of the store location and management's expectations regarding demand characteristics, customer traffic and competitive positioning in the surrounding trade area; and management's expectations regarding the Company's retail expansion strategy, including statements regarding further market share consolidation and the expected benefits of the Company's retail model and loyalty ecosystem.

Forward‑looking statements are based on management's current expectations and assumptions as of the date of this news release, including assumptions regarding: the receipt of any required regulatory approvals and authorizations for the store opening; the accuracy and continued applicability of third‑party and internal market, demographic and competitive data relied upon by management; and the Company's ability to execute its retail expansion plans and operate the new store as anticipated.

Forward‑looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially, including, without limitation: delays or inability to obtain required regulatory approvals or authorizations; changes in competitive, market or consumer conditions; operational risks associated with opening and operating new stores; and the other 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

When will High Tide (HITI) open its new Canna Cabana store in Toronto Rexdale?

The new Canna Cabana in Toronto’s Rexdale neighbourhood is expected to start adult-use cannabis sales on May 17, 2026. According to High Tide, the store is at 150 Silver Reign Drive in a major power centre with big-box retailers.

How many Canna Cabana stores will High Tide (HITI) have after the new Toronto opening?

After this opening, Canna Cabana’s network is expected to reach 222 stores across Canada and 98 in Ontario. According to High Tide, this expansion supports its discount-club retail model and strengthens presence in Canada’s largest cannabis market.

Where is the new High Tide (HITI) Canna Cabana store located in Toronto?

The new Canna Cabana store is located at 150 Silver Reign Drive in Toronto’s Rexdale area. According to High Tide, it sits in an established power centre, near national retailers and restaurants, serving about 263,000 residents within five kilometres.

What market opportunity does High Tide (HITI) see for its new Rexdale Canna Cabana store?

High Tide expects the Rexdale Canna Cabana to serve a dense and growing community of about 263,000 residents within five kilometres. According to High Tide, the high-density retail corridor and strong household incomes support long-term demand for adult-use cannabis products.

How does the new Toronto Canna Cabana store support High Tide (HITI)’s expansion strategy?

The Rexdale opening aligns with High Tide’s focus on “profitable and disciplined” retail expansion in Ontario. According to High Tide, the store strengthens its discount-club model, broadens the Cabana Club loyalty ecosystem, and supports efforts to consolidate market share in Ontario.