[PRESS RELEASE] – CALGARY, Alberta, Feb. 9, 2026 – High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced 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 on Feb. 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 neighborhoods. 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," High Tide founder and CEO Raj Grover said. "Situated in a dense and growing neighborhood, 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.”
Grant of Options and RSUs
The company also announced 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 Feb. 6, 2029, and vest over two years.
The company also granted an aggregate of 1,300,530 restricted stock units (RSUs) of the company to certain directors, officers, employees and consultants of the company. Forty-eight percent of the RSUs vest on Feb. 6, 2027, 26% on Feb. 6, 2028, and the remaining 26% on Feb. 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.
