CALGARY, April 5, 2018 /CNW/ - High Tide Ventures Inc. ("High Tide") today announced that, since March 6, 2018 when the Alberta Gaming and Liquor Commission ("AGLC") began accepting retail cannabis license applications, the company has applied for 25 licensed locations to date. From multiple outlets in the major cities of Calgary and Edmonton, to strategic storefronts in niche markets including Cochrane, Fort Saskatchewan, Grand Prairie, Hinton, Lacombe, Lethbridge, Lloydminster, Okotoks, Olds, Penhold, Red Deer, St. Albert, Stony Plain and Whitecourt, High Tide is well-positioned to capitalize on the imminent launch of the legal Canadian cannabis industry. Through its 19 existing Smoker's Corner locations, High Tide currently educates and supplies accessories to over 170,000 medicinal and recreational cannabis users per year.
Subject to licensing by the AGLC and other municipal-level approvals, these locations are expected to form the core of High Tide's new Canna Cabana entity – a modern dispensary concept with a sophisticated yet playful experience. "We are extremely excited about the opportunity to continue serving our large base of Alberta consumers with the support of our integrated value chain", said Raj Grover, President & Chief Executive Officer of High Tide. "As a proven player in the cannabis accessory industry since 2009, the High Tide group of companies is well-capitalized with the resources to grow rapidly while providing customers with a complete and high-quality experience."
In addition to targeting growth in Alberta, High Tide is currently participating in Saskatchewan's retail cannabis permitting process and is also ready to apply in British Columbia, altogether demonstrating the company's mission of becoming a significant competitor in the industry.
About High Tide Ventures Inc.
High Tide is a privately-held, Alberta-based, downstream cannabis corporation. It is among the most vertically-integrated players in the Canadian cannabis market, with portfolio companies including RGR Canada Inc. ("RGR"), Smoker's Corner, Canna Cabana and Famous Brandz, subject to signing a definitive agreement with all Famous Brandz shareholders, which is anticipated to occur later this month. High Tide's strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing value for shareholders.
Representing the core of High Tide's business, RGR is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories. Founded in 2009 and approved by the Canadian Franchise Association, Smoker's Corner is Canada's largest counter-culture chain with 19 current locations. Upon legalization across Canada in mid-2018, Canna Cabana is positioned to become a sizeable retailer through a modern dispensary concept with a sophisticated yet playful customer experience. Famous Brandz is a dominant manufacturer of licensed cannabis accessories, through partnerships with celebrities and entertainment companies like Snoop Dogg and Paramount Pictures, which are distributed through the largest wholesalers and retailers around the world.
For more information about High Tide Ventures Inc., visit www.hightideventures.ca
Certain statements in this news release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as "forward-looking statements" are made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (generally, forward-looking statements can be identified by use of words such as "outlook", "expects", "intend", "forecasts", "anticipates", "plans", "projects", "estimates", "envisages, "assumes", "needs", "strategy", "goals", "objectives", or variations thereof, or stating that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions, and other similar terminology) are not statements of historical fact and may be forward-looking statements.
Such forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to the ability of High Tide to execute on its business plan; that Bill C-45, being the bill enacting the federal Cannabis Act, will be passed into law, or passed into law substantially in its current form; that all of the shareholders will sign a definitive agreement of purchase and sale with High Tide; and that High Tide will receive a license from the AGLC permitting it to carry on its Canna Cabana business. High Tide considers these assumptions to be reasonable in the circumstances, given the time periods for such outlook. However, there can be no assurance that any one or more of the government, industry, market, operational or financial targets as set out herein will be achieved. Inherent in the forward-looking statements are known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements.
The forward-looking statements contained herein is current as of the date of this news release. Except as required by law, High Tide does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. Any and all forward-looking statements included in this news release are expressly qualified by this cautionary statement, and except as otherwise indicated, are made as of the date of this news release.
SOURCE High Tide Ventures Inc.
For further information: please contact Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets at High Tide Ventures Inc.; Tel: (403) 265-4207; Email: [email protected]; Web: www.hightideventures.ca.