The Company Also Opens New Retail Cannabis Store in Waterloo, Ontario
CALGARY, March 8, 2022 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that it has launched its cannabis Delivery on Demand program at select Canna Cabana locations in Alberta, as permitted by newly-implemented regulations which allow private sector cannabis retailers to offer delivery and e-commerce services as of today. Through the Company’s Delivery on Demand program, customers will be guaranteed delivery within two hours of placing their order, or in any hourly time-slot chosen by the customer between 12:00pm and 8:00pm outside of the two hour window. The Company intends to further expand delivery services across its Alberta store network in the coming weeks.
“In allowing private sector-led cannabis e-commerce and home delivery, Alberta has shown its commitment to helping regulated cannabis retailers effectively compete against and drive out illicit market operators. By launching Delivery on Demand at Canna Cabana locations in Alberta, we can now offer our Cabana Club members in the province access to our unbeatable prices on cannabis and consumption accessories from the comfort of their own homes,” said Raj Grover, President and Chief Executive Officer of High Tide. “Between our industry-leading prices and Delivery on Demand guarantee, we are able to offer a fantastic delivery experience for our Alberta customers, both existing and new. As the largest cannabis retailer in Alberta, the launch of delivery and e-commerce services will help to solidify our leadership position and gain further market share in the province,” added Mr. Grover.
OPENING OF NEW RETAIL CANNABIS STORE IN WATERLOO, ONTARIO
The Company further announced today that its Canna Cabana retail cannabis store located at 440 Erb Street West in Waterloo, Ontario, has begun selling recreational cannabis products for adult use. This opening represents High Tide’s 113th branded retail location across Canada, and 34th in Ontario, selling recreational cannabis products and consumption accessories. This store will also be High Tide’s third to open in the Waterloo Region, one of Ontario’s fastest-growing metropolitan areas with a population of over 575,000 people. The store is located in Beechwood Centre, a shopping mall anchored by a national grocery retailer, as well as other national and provincial retail chains.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with bricks and mortar as well as global e-commerce assets. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 113 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide was featured in the third annual Report on Business Magazine’s ranking of Canada’s Top Growing Companies in 2021, and was named as one of the top 10 performing diversified industries stocks in the 2022 TSX Venture 50™. The Company is also North America’s first and only cannabis discount club retailer, featuring Canna Cabana, Meta Cannabis Co., and Meta Cannabis Supply Co. banners, with additional locations under development across the country. High Tide’s portfolio also includes retail kiosk and smart locker Fastendr™ technology. High Tide has been serving consumers for over a decade through its established e-commerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more recently in the hemp-derived CBD space through Nuleafnaturals.com, FABCBD.com, and BlessedCBD.co.uk, as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as “forward-looking statements” are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as “outlook”, “expects”, “intend”, “forecasts”, “anticipates”, “plans”, “projects”, “estimates”, “envisages, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or stating that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan and that High Tide will receive one or multiple licenses from Alberta Gaming, Liquor & Cannabis, British Columbia’s Liquor Distribution Branch, Liquor, Gaming and Cannabis Authority of Manitoba, Alcohol and Gaming Commission of Ontario or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. business. High Tide considers these assumptions to be reasonable in the circumstances. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.
The forward‐looking statements contained herein are current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
Senior Vice President – Corporate and Public Affairs
Capital Markets Advisor