Cannabis Retailer High Tide Ramps Up Its Retail Presence In Saskatchewan And Ontario

Canadian cannabis retailer High Tide Inc. HITI HITI (FSE:2LYA) announced Monday that it's expanding its retail footprint in Saskatchewan and Ontario.

The new Canna Cabana store is located at 2223 Victoria Avenue East in Regina, in the Victoria Square Shopping Centre. It brings the total number of the company's retail locations in Saskatchewan to six.

The shop at 14 Martindale Crescent in Hamilton, situated within the Meadowlands Power Centre, is the 31st Canna Cabana store in Ontario.

The Calgary-based company said that it currently sells recreational cannabis products in a total of 103 branded retail locations nationwide.

Raj Grover, president and CEO of High Tide, said that "ensuring value for our customers has always been our priority.

"Today's announcement is also reflective of our ambitious strategy to further expand across Canada through both acquisitions, as in the case of the Regina store, and organic growth, as in the case of the Hamilton store," Grover continued. "This is in line with our drive to rapidly grow market share by attracting value-conscious and legacy market consumers, which combined, represent the vast majority of Canadian cannabis sales."

On Wednesday, the company revealed it's transitioning all of its cannabis retail stores to an innovative cannabis discount club concept that will offer benefits and lower prices for its Cabana Club loyalty members. The company's cannabis stores currently offer steep club discounts on cannabis products in addition to existing member-only discounts on consumption accessories, as well as other exclusive benefits for over 245,000 Cabana Club members.

More Recent News From High Tide:

• High Tide's Canna Cabana Receives License To Operate In British Columbia
• High Tide Secures $25M Revolving Credit Facility With ATB Financial, Provides Debt Status Update
• High Tide's Shares Slightly Up On Closing Acquisition Of Blessed CBD, Most Popular Brand In UK

HITI Price Action

High Tide's shares traded 0.54% lower at $5.57 per share during the pre-market session on Monday morning.

Photo: Courtesy of High Tide Inc.