High Tide Inc. has announced that its Canna Cabana cannabis retail store, located at 40 Great Plains Road, Emerald Park, Saskatchewan, will begin selling recreational cannabis products and adult-use accessories on Saturday, June 29. Additionally, its store located at 122 4 Avenue West, Cochrane, Alberta, will open on Sunday, June 30. These openings will mark High Tide’s 175th and 176th Canna Cabana locations in Canada.
Emerald Park is located just east of Regina. Established in the 1980s, this full-service community features large homes surrounded by numerous parks and recreational amenities. This brand new Canna Cabana opens in a former cannabis retail store that is fully landscaped, with great visibility and access from the Trans-Canada Highway.
Cochrane is a growing community located just outside of Calgary. The city has a five-year growth rate of 34.31%, a median household income of $127,000 and a one-year business growth rate of 7.20%. Canadians and international travelers travel to Cochrane on the way to Banff National Park and visit the many small businesses and national chains along the main drag.
“I am pleased to announce the opening of two new Canna Cabana stores, one of which is the 175th in Canada. The opening of these new stores is a testament to the continued momentum they are generating by taking over leases of fully built-out cannabis facilities, while many privately held and publicly traded competitors continue to close their doors. This saves the company time, money and other resources while continuing to spread the Canna Cabana brand in communities across the country,” said Raj Grover, Founder and CEO of High Tide.
“With 14 new locations announced since the beginning of the year, we remain on track to achieve our communicated goal of adding 20 to 30 new Cabanas by the end of the calendar year. Given the strong free cash flow profile, we expect to continue the rapid trajectory of new property creation, which may be complemented by additional M&A activity in the second half of this year.
