High Tide Celebrates Lifting of Alberta Retail Licencing Moratorium with 9 More Stores Ready to Sell Cannabis Products

High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HITIF) (FRA:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today is celebrating the announcement by Alberta Gaming, Liquor and Cannabis (“AGLC”) that it has lifted the moratorium on issuing retail cannabis licences and accepting new licence applications. The announcement provides certainty and clarity for the licencing of nine approved Canna Cabana locations currently selling accessories, as well as for the next 23 locations in various stages of development, in addition to the four Canna Cabana locations currently selling cannabis in Alberta.

AGLC will be issuing five licences per week until all approved locations have been licenced. “Now that the moratorium has been lifted, High Tide’s retail segment can resume its high rate of growth by helping satisfy the strong demand for legal cannabis products throughout Alberta,” said Raj Grover, President and Chief Executive Officer of High Tide. “This announcement also enables us to hire more Albertans, deliver our top-rated retail experience to more customers, as well as educate and engage with more communities across the province,” added Mr. Grover. The Company has been a leading retailer of cannabis products since October of 2018, subsequent to the legalization of recreational cannabis for adult use across Canada.

High Tide expects its next licence to be issued within the next two weeks and all nine approved stores to be licenced to sell cannabis products in the near term, barring any changes by AGLC. Work is now being accelerated on the next 23 locations permitted in Alberta, of which 19 will be Canna Cabana stores and four will be KushBar stores, all of which will be added to AGLC’s queue for licencing upon completion. This announcement, along with the recent acquisition of a retail cannabis business in Saskatchewan, Canna Cabana being drawn to open a cannabis store in Manitoba as well as the upcoming opening of the branded Canna Cabana Toronto store, all position High Tide to significantly increase its retail footprint in Canada.

SOURCE High Tide Inc.