High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA) has expanded its store footprint in British Columbia and added a third store to its Canna Cabana locations in Vancouver.
On Tuesday, the leading cannabis retailer announced it is opening a new store in Dunbar Village which is located close to the University of British Columbia and Langara College around a national grocery chain and a liquor store.
“I am pleased to announce the opening of our third Canna Cabana location in Vancouver, which is the epicentre of world-famous BC bud,” High Tide CEO Raj Grover said.
“Vancouver is an important market to expand our Canna Cabana brand into due to its large population, popularity with tourists and favourable municipal distance requirements between Cannabis stores, yielding greater returns over other markets,” he added.
The company is North America’s first cannabis discount club retailer under the Canna Cabana banner and includes its retail kiosks and smart locker technology Fastendr.
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Through the opening of the store, the company is expanding on its discount club model which provides lower prices on cannabis and accessories. The company’s other locations in British Columbia include its Yaletown and Olympic Village locations as well as a store in Fort St. John in Northern British Columbia.
“This Dunbar location is the second organically built retail store for High Tide in British Columbia and, combined with recent acquisitions of Choom and Jimmy’s Cannabis stores, brings us close to ending the 2022 calendar year with 8 stores in the province, the maximum currently permitted for any entity,” added Grover.
