High Tide Inc. (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA) continues to take its Cabana Cannabis Co. to more provinces and soon will start selling them in Canada’s largest market.
On Monday, the leading retailer announced that it has received permission from the Ontario Cannabis Store to start selling its white-label branded shatter, THC gummies, pre-rolls, as well as full-spectrum multi-cannabinoid tinctures and soft gels.
Among the products listed, High Tide will start selling products sourced from four different companies including Heritage Cannabis Holdings (CNSX: CANN) which provides the one-gram Cabana Cannabis Co. Pink Hawaiian shatter, Loosh Brands for the THC gummies, Candre Cannabis Inc. for the pre-rolls and Emprise Canada for the full-spectrum multi-cannabinoid (including CBD, CBN, CBG, CBC and Delta-9 THC) oil and softgels.
The products will be available in October or November.
Last Monday, the company said it has begun sales of its first Cabana Cannabis Co. branded shatter and THC gummies in the province of Saskatchewan.
Company stock went down by 1.13 per cent on Monday to $2.62 on the Canadian Ventures Exchange.
High Tide’s CEO Raj Grover said that by drawing on the latest insights into consumer preferences using the company’s Cabanalytics data and working with our contracted licensed producers through white label agreements, the company is introducing a lineup of the greatest hits of premium and competitively-priced products.
“As I stated last week upon the initial launch of the Cabana Cannabis Co. lineup in Saskatchewan, bringing these newly-developed SKUs to market in multiple provinces is only the first step in High Tide’s white-label strategy,” Grover said.
“We intend to continue leveraging our Cabanalytics data to significantly expand the Cabana Cannabis Co. catalogue moving forward, through white label contracts with licensed producers.”
Over the long-term, the company intends to have 20-30 per cent of its total bricks-and-mortar sales come from the expanded Cabana Cannabis Co. product lineup.
“I once again want to applaud the forward-thinking decision of the AGCO to allow for white label partnerships in Ontario, which will enhance the customer experience while also allowing for greater product differentiation, benefitting retailers large and small,” Grover added.