October 23, 2023 By Grow Opportunity Staff
(CNW) Calgary — High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that its Canna Cabana retail cannabis store located at 101 Sage Valley Common NW, Calgary, Alberta will begin selling recreational cannabis products and consumption accessories for adult use today.
This opening will mark High Tide’s 157th Canna Cabana branded retail cannabis location in Canada and the 78th in Alberta. Calgary is also the home of High Tide’s headquarters and is the largest city in Canada’s fourth-largest and most affluent province.
This strategically situated store, which used to host a Fire & Flower, is located in the rapidly expanding northwest section of Calgary and is in a major retail power center, just steps away from an Alberta-based liquor and grocery store chain. The site is surrounded by high-density, multi-family residences, with ground being broken on additional homes within walking distance.
“I’m excited to announce the opening of another Canna Cabana location in North West Calgary to further our retail dominance in one of Canada’s fastest-growing cities. Our tried, tested, and perfected discount club model continues to set us apart from our peers. While the Canadian cannabis industry is facing ongoing challenges, including CCAA filings, our strong business fundamentals are assisting us in generating positive free cash flow from our operations, giving us the opportunity to further expand our retail footprint across the country,” said Raj Grover, president and chief executive officer of High Tide.
“With the opening of this Sage Valley location in North West Calgary, we created additional value by taking over this fully built Fire and Flower location, saving on build-out costs of approximately three hundred thousand dollars. In this challenging retail environment, every dollar counts, so this site was a nice value add to our retail portfolio. I look forward to more organic store announcements in the coming weeks,” added Mr. Grover.
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