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Monday, Jul 4, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

High Tide opens 125th store, now sponsors 250 children via World Vision

So far the company has sponsored 250 children through World Vision.

High Tide to launch Cabana Cannabis Co. products in Ontario
Photo via High Tide

High Tide Inc. (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA) said it now sponsors 250 children living under precarious circumstances via World Vision International after opening its 125th store.

On Friday the leading Canadian retailer announced the upgrade of support towards World Vision, an organization that helps children living under precarious circumstances worldwide as well as the opening of its 125th store in Canada. The new store is located in a retail plaza in Blackfalds, Alberta which is a small community north of Red Deer.

High Tide operates under the banners Canna Cabana, Meta Cannabis Co. and Meta Cannabis Supply Co. as well as under 8 online stores.

Last September, the company announced the expansion of its support to vulnerable children globally through child sponsorship where instead of one child, the company would sponsor two kids each time a new store opens.

So far the company has sponsored 250 children through World Vision.

World Vision is a 1950 evangelical Christian humanitarian aid, development, and advocacy organization that helps children living in poverty and under precarious circumstances.

Read more: High Tide completes Bud Heaven acquisition

Read more: High Tide reports approximately $1.37M in retail sales on 4/20

“As a fast-growing and young town, Blackfalds has favourable cannabis demographics, and given the success of our nearby Canna Cabana store in Red Deer, I expect that this new store will perform positively as well,” said Raj Grover, President and Chief Executive Officer of High Tide.

“Achieving the 125-store milestone is yet another encouraging sign for High Tide’s future, as our bricks-and-mortar retail revenues have continued to grow strongly and exceed expectations since we launched our discount club model, with continued same-store sales growth that has put us in an even stronger leadership position within the Canadian cannabis retail landscape.

I am also very pleased that we have surpassed 250 child sponsorships through World Vision. This is just one of many examples of High Tide’s ongoing commitment to giving back and corporate social responsibility,” said Grover.

 

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