[PRESS RELEASE] – CALGARY, Alberta, Oct. 9, 2026 – High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced that it has completed the acquisition of an established retail cannabis store located at 100 Rainbow Road in Chestermere, Alberta, for $670,000 in cash. The store will be rebranded under the Canna Cabana banner, bringing High Tide's total store count to 234 locations across Canada and 93 in the province of Alberta.
The store occupies a high-visibility unit along one of Chestermere's main arterial roads, giving it strong exposure to local residents as well as commuters travelling to and from Calgary. The unit is co-tenanted with a national quick-service restaurant and several specialty retail and personal service businesses, and sits next to a major grocer and a liquor store. The same building is home to a range of professional service tenants that bring steady traffic to the property throughout the day. Together, these daily-needs destinations generate the kind of repeat, convenience-driven shopping trips that suit Canna Cabana's discount club model.
Surrounded by residential neighborhoods in every direction, the store is positioned to serve both its immediate community and customers from across the wider area who travel the route each day.
"Great opportunities are worth waiting for. We've wanted to bring Canna Cabana to Chestermere for some time, but we weren't prepared to compromise on location or economics just to enter the market,” High Tide founder and CEO Raj Grover said. “Today, we're pleased to have secured an established, cash-flowing store at an attractive 2.1 times annualized adjusted EBITDA. This is exactly how we intend to approach our growth opportunities going forward: remain opportunistic, stay disciplined on valuations, and pursue acquisitions or organic development based on what makes the most sense for our shareholders.
"Retail success starts with the right location, and this one checks many of the boxes we look for. Strong visibility, growing residential neighborhoods and a national discount grocer nearby make it an excellent fit for our innovative discount club model. As we continue expanding across Canada, we'll remain selective, focusing on quality locations and strong returns. We're excited to bring our Club's unbeatable value proposition to Chestermere and many more communities across the country.”
Transaction Details
The transaction, which was an arm's-length transaction, closed on Oct. 8, 2026. The purchase price of $670,000 was paid entirely in cash on closing, and represents 2.1x the store's annualized adjusted EBITDA of approximately $316,000 for the three months ended Aug. 31, 2026.
