CALGARY, Alberta, Oct. 23, 2023 – PRESS RELEASE – High Tide Inc., a 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 101 Sage Valley Common NW, Calgary, Alberta, began selling adult-use cannabis products and consumption accessories for adult use on Oct. 23. This opening will mark High Tide's 157th Canna Cabana branded retail cannabis location in Canada and the 78th in Alberta. Calgary is also the home of High Tide's headquarters and is the largest city in Canada's fourth largest and most affluent province.
This strategically situated store, which used to host a Fire & Flower, is located in the rapidly expanding northwest section of Calgary and is in a major retail power center, just steps away from an Alberta-based liquor and grocery store chain. The site is surrounded by high-density, multifamily residences, with ground being broken on additional homes within walking distance.
"I'm excited to announce the opening of another Canna Cabana location in Northwest Calgary to further our retail dominance in one of Canada's fastest-growing cities,” High Tide President and CEO Raj Grover said. “Our tried, tested and perfected discount club model continues to set us apart from our peers. While the Canadian cannabis industry is facing ongoing challenges, including CCAA filings, our strong business fundamentals are assisting us in generating positive free cash flow from our operations, giving us the opportunity to further expand our retail footprint across the country."
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"With the opening of this Sage Valley location in Northwest Calgary, we created additional value by taking over this fully built Fire and Flower location, saving on build-out costs of approximately three hundred thousand dollars,” Grover said. “In this challenging retail environment, every dollar counts, so this site was a nice value add to our retail portfolio. I look forward to more organic store announcements in the coming weeks.”
