CALGARY, AB - High Tide Inc. (Nasdaq: NASDAQ:HITI) (TSXV: HITI) (FSE: 2LYA), a prominent retail-focused cannabis company, announced the opening of its new Canna Cabana retail store in Mississauga, Ontario, set to commence operations on Sunday.
The new store, located at 4141 Dixie Road, will be the 166th Canna Cabana location in Canada, further expanding the company's presence in the Ontario market.
The Mississauga store is strategically situated near Rockwood Mall, in a retail area surrounded by major grocery and discount retailers, a national pharmacy, and various dining options. Its proximity to a provincially owned liquor store and a major private career college also positions it well to attract a high volume of consumers.
Raj Grover, Founder and CEO of High Tide, expressed enthusiasm for the new location, highlighting the limited competition in the northern part of the city and the potential to attract more members to the company's Cabana Club discount program. High Tide's Cabana Club currently boasts over 1.32 million members.
In addition to the store opening, High Tide's Board of Directors has approved a grant of 95,976 restricted share units (RSUs) to company officers under the Omnibus Plan, which aims to incentivize and retain key employees.
High Tide's business model encompasses a range of cannabis-related operations, including the Canna Cabana retail chain, the Fastendr retail technology, e-commerce platforms, CBD products, wholesale distribution, and licensing agreements under the Famous Brandz name.
The company has been recognized for its growth and performance, being named one of Canada's Top Growing Companies and ranking highly among diversified industries stocks on the TSX Venture 50.
This news is based on a press release statement from High Tide Inc. and reflects the company's ongoing expansion and strategic positioning in the North American cannabis market.
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