- Cannabis company, High Tide (CSE:HITI), has opened its latest Canna Cabana retail store on Jasper Avenue in Edmonton, Alberta
- The Jasper Avenue store was previously a Smoker’s Corner franchise, another High Tide subsidiary
- High Tide acquired the premises in 2019 for its prime location and established customer base
- The Jasper Avenue store will serve Edmonton’s population of nearly one million people
- High Tide’s share price is up 3.85 per cent, and is currently trading for C$0.14 per share
Cannabis company, High Tide (CSE:HITI) has opened its latest Canna Cabana retail store on Jasper Avenue in Edmonton, Alberta.
The company officially opened the store at 10275 Jasper Avenue on Saturday April 18.
Prior to this, the Jasper Avenue store was a Smoker’s Corner franchise. Smokers Corner and Canna Cabana are both subsidiary companies of High Tide.
High Tide acquired the premises in 2019 for its established customer base and prime location. Jasper Avenue is the main thoroughfare across Edmonton’s downtown centre, and is therefore a major public transit route. As such, the road features numerous retail, dining and entertainment businesses along its borders.
With its opening, the latest Canna Cabana retail location will now serve Edmonton’s population of nearly one million people.
High Tide’s President and CEO, Raj Grover, commented on the exciting new opening.
“Edmonton has been one of the strongest markets for Canna Cabana stores since legalisation. We have been eager to open this landmark location to serve the thriving community of Jasper Avenue.
“High Tide is focused on sustainable growth, and the achievement of profitability in the near team. Opening prime locations like Jasper Avenue will help us accomplish exactly that,” Raj said.
The expansion into Edmonton is the latest example of how Canna Cabana and High Tide are bouncing back from COVID-19. Recently, Canna Cabana was allowed to reopen its three retail location in Ontario, thanks to a provincial government emergency order. As a result, the subsidiary was able to recall the many staff which it had laid off only days before.
Although many cannabis stores can only provide curbside pick-ups and home deliveries, the ability to stay open is proving fruitful. Countless cannabis companies are continuing to see rapidly increasing business and revenue during the COVID-19 health crisis.
High Tide will be looking for any opportunity to expand its customer base, while adhering to government orders and guidance.
High Tide’s share price is up 3.85 per cent, trading for $0.14 per share as of 10:18am EST.