High Tide - CEO, Raj Grover.
CEO, Raj Grover.
Source: LinkedIn.
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  • High Tide’s (HITI) Cabana Club loyalty program has now amassed over 515,000 members
  • Membership has grown 110 per cent over less than seven months
  • The company is also announcing a store opening in Kitchener and a store acquisition in Ontario, which bring its total branded Canadian retail locations to 122
  • High Tide is a retail-focused cannabis company with brick-and-mortar as well as global e-commerce assets
  • High Tide (HITI) is up by 4.03 per cent trading at $3.10 per share

High Tide’s (HITI) Cabana Club loyalty program has now amassed over 515,000 members.

The figure represents 110-per-cent growth from the launch of the cannabis discount club just under seven months ago.

The company has also opened a Canna Cabana retail store in Kitchener (1375 Weber Street East) and finalized its acquisition of the last Ontario cannabis store operating under the Crossroads Cannabis name.

It acquired the Woodstock, Ontario store for 138,656 High Tide shares priced at C$4.573 for a total of $634,000.

High Tide now has 122 branded retail locations across Canada including 40 in Ontario.

“I know that the last several months have been incredibly difficult in the capital markets, including our own equity performance. As the largest shareholder of High Tide, I have also been feeling the effects of these trying times. Despite these challenges, I have yet to sell a single share and continue to view High Tide as an undervalued company, a sentiment which is shared by the entire senior management and board of directors,” stated Raj Grover, High Tide’s President and CEO.

“Throughout the remainder of 2022, we plan to further grow our Canna Cabana store network with the goal of ending the year with 150 locations,” he added.

High Tide is a retail-focused cannabis company with brick-and-mortar as well as global e-commerce assets.

High Tide (HITI) is up by 4.03 per cent trading at $3.10 per share as of 11:59 am EST.

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