CALGARY, Aug. 13, 2018 /CNW/ - High Tide Ventures Inc. ("High Tide" or the "Company") congratulates Premier Doug Ford, Attorney General Caroline Mulroney, Finance Minister Vic Fedeli and the Government of Ontario for its decision to add private retail to the provincial cannabis framework and embracing a hybrid structure that includes the best elements of the various recreational cannabis models being implemented across western Canada. Private retailers will be able to offer customers a wide range of products, services, brands and overall experiences to complement the online and wholesale functions of the Ontario Cannabis Store. Accordingly, High Tide today announced that it recently launched its efforts to capitalize on the large opportunity provided by the Ontario retail cannabis market.
Through its Canna Cabana and KushBar brands, the Company is in the process of executing on the first phase of a real estate strategy that is based on its success in Alberta. High Tide will be targeting the Greater Toronto Area and all other major urban centres, as well as carefully selected smaller markets using the knowledge gained from having 19 Smoker's Corner locations selling smoking accessories across Alberta, British Columbia and Nova Scotia. Since 2009, the Company has primarily been serving the cannabis consumer and this head start gives it a significant advantage over the competition, which landlords have already begun to appreciate. "We are focused on the opportunity to provide the large base of potential customers in Ontario with the benefits of our integrated value chain", said Raj Grover, President and CEO. "As a proven player in the industry, High Tide is growing rapidly to provide a complete and high-quality retail experience."
With eight development permits already in hand from various municipalities including but not limited to Calgary, Edmonton, Fort Saskatchewan, Lethbridge and Morinville, the Company expects to secure the maximum number of 37 retail cannabis outlets in Alberta as well as the maximum of eight expected retail cannabis locations in British Columbia. Subject to the ongoing receipt of municipal development permits and other government approvals, the Company is positioned to be one of Canada's largest retailers of cannabis products and lifestyle accessories upon the legalization of recreational cannabis on October 17, 2018.
About High Tide Ventures Inc.
High Tide is a privately-held, Alberta-based, retail-focused cannabis corporation. It is among the most vertically-integrated companies in the Canadian cannabis market, with portfolio entities including RGR Canada, Smoker's Corner, Famous Brandz, Canna Cabana and the majority of KushBar. High Tide's strategy as a parent company is to extend and strengthen its retail-focused integrated value chain, while providing a complete customer experience and maximizing shareholder value.
Representing the core of High Tide's business, RGR Canada 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. Famous Brandz is a dominant manufacturer of licensed lifestyle accessories, through partnerships with celebrities and entertainment companies like Snoop Dogg and Paramount Pictures, respectively, which are sold to wholesalers and retailers around the world. Upon the legalization of recreational cannabis across Canada on October 17, 2018, Canna Cabana is positioned to become a sizeable retail brand through a modern concept with a sophisticated yet playful customer experience, while KushBar is a retail concept that will also be focused on the valued Canadian cannabis consumer.
For more information about High Tide Ventures Inc., visit www.hightideventures.com
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 and that High Tide will receive one or multiple licenses from the Alberta Liquor and Gaming Commission, British Columbia's Liquor Distribution Branch or the Saskatchewan Liquor and Gaming Authority permitting it to carry on its Canna Cabana and KushBar businesses. 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: Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets at High Tide Ventures Inc.; Tel: (403) 265-4207; Email: [email protected]; Web: www.hightideventures.com.