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CALGARY, April 8, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI.CN – News) (OTCQB:HTDEF – News) (FRA:2LY.F – News), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has opened a new Smoker’s Corner retail store located in the Royal Centre Hills Plaza, at 3739 8 Avenue NW in Edmonton, Alberta (the “Hills Store”). Similar to the Company’s other Smoker’s Corner locations, the Hills Store will benefit from being supplied by High Tide’s vast catalogue of more than 4,300 SKUs of smoking accessories and cannabis lifestyle products, including the full range of proprietary and licensed goods from High Tide’s wholesale segment.
Edmonton continues to provide strong market opportunities for the Company and its retail businesses. “Following the legalization of recreational cannabis for adult use on October 17, 2018, we noticed that customer demand for a wide range of smoking accessories is not being satisfied within regulated retail cannabis stores,” said Raj Grover, President and Chief Executive Officer of High Tide. “With an expertise in ancillary products, Smoker’s Corner offers our most discerning customers the widest selection of smoking accessories on the market today,” added Mr. Grover. The Company continues to evaluate similar opportunities to maximize the opportunity to sell higher margin products and leverage its decade of experience in the smoking accessories and cannabis lifestyle retail industry.
The Hills Store brings the company total to 13 Smoker’s Corner stores, with five corporately owned and eight franchises across Alberta, British Columbia to Nova Scotia. High Tide also continues to operate its 11 existing Canna Cabana stores and advance the next 25 locations that are under various stages of development and construction. The Company is also progressing through the necessary steps to complete two pending acquisitions in Saskatchewan and assisting with the opening and operation of three cannabis retail locations in Ontario.
About High Tide Inc.
High Tide is an Alberta-based, downstream cannabis corporation focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. 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. Key industry investors in High Tide include Aurora Cannabis Inc. (NYSE:ACB – News) (TSX:ACB.TO – News) (Frankfurt: 21P; WKN: A1C4WM) and FSD Pharma Inc. (CSE:HUGE) (OTC:FSDDF – News) (FRA:0K9.F – News).
Representing the core of High Tide’s business, RGR Canada Inc. is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Famous Brandz Inc. is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures. Famous Brandz’ products are sold to wholesalers and retailers around the world. Founded in 2009 and approved by the Canadian Franchise Association, Smoker’s Corner Ltd. is among Canada’s largest counter-culture chains with 13 locations. Kush West Distribution is in the process of becoming a cannabis wholesaler in the province of Saskatchewan. Based in Amsterdam since 2000, Grasscity.com is the world’s preeminent and most searchable online retailer of smoking accessories and cannabis lifestyle products with approximately 5.8 million site visits annually. With the deregulation of recreational cannabis for adult use across Canada, Canna Cabana Inc., with 11 current locations, is in the process of becoming a sizeable retail brand with a sophisticated yet playful customer experience, while KushBar Inc. is a retail concept that will also be focused on the valued Canadian cannabis consumer.
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 or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana Inc. and KushBar Inc. businesses. 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.
SOURCE High Tide Inc.