High Tide Inc., a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced that its Canna Cabana store located at 111 Rideau Street in Ottawa, Ontario, has begun selling recreational cannabis products for adult use. The new store brings High Tide’s total branded retail locations selling recreational cannabis products and consumption accessories across Ontario to 20. In line with the Company’s strategy of driving organic growth in profitable neighbourhoods, the new store is located on one of the most iconic streets within the downtown core of Canada’s national capital and is just a few feet away from major tourist attractions like the Rideau Centre shopping mall, Parliament Hill and the Byward Market.
“The opening of our twentieth store in Canada’s largest province, along with the continued growth of our e-commerce business, is powered by High Tide’s strong fundamentals,” said Raj Grover, President and Chief Executive Officer of High Tide. “With pandemic related restrictions on construction now lifted, we will be accelerating the rate of organic growth in our bricks and mortar Canadian business while continuing to pursue immediately accretive e-commerce related acquisitions in the United States,” added Mr. Grover.
About High Tide Inc.
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA1, with 87 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s retail segment features the Canna Cabana, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country.