High Tide Opens Another Cannabis Dispensary In Ontario As Cabana Club Loyalty Program Nearly Doubles

Cannabis retailer High Tide Inc. HITIHITI(FSE:2LYA) announced Thursday that its newest Canna Cabana retail cannabis store in Ontario has begun selling recreational cannabis products for adult use.

The store at 905 Rymal Road East in Hamilton is the company's 106th branded retail location nationwide and 32nd in the province.

After the launch of two successful locations, this is the third Canna Cabana store in Hamilton, which anchors Ontario's third-biggest metropolitan area.

"Today, I am pleased to announce the first of many new store openings that we have planned for 2022," Raj Grover, president and CEO of High Tide said. "2021 was a banner year for High Tide's growth, and we will continue to build upon that momentum over the next 12 months."

In addition, High Tide has also provided an update on the growth of its Cabana Club loyalty program, which has expanded from approximately 245,000 members at the time it launched the innovative discount club concept on Oct. 20 to 359,484 members, representing a growth rate of nearly 47% in under three months.

The company intends to strategically expand its brick-and-mortar retail footprint in Canada to at least 150 locations via continued organic growth and accretive acquisitions, with a particular focus on underserved locations in Ontario and British Columbia, Grover explained.

More recent news from High Tide:

High Tide To Buy Cannabis Shop Bud Room For $2.83M In Stock, Acquiring Fastendr Retail Kiosk & Smart Locker Technology

High Tide Inc: Cantor's Updated Model For NuLeaf CBD Deal

High Tide To Raise Up To CA$40M Through Newly Established ATM Program

Cannabis Retailer: High Tide's Stock Slightly Up On Closing Of $31.24M NuLeaf Acquisition

HITI Price Action

High Tide's shares traded 0.464% lower at $4.29 per share at the time of writing on Thursday morning.