CALGARY, May 17, 2019 /CNW/ – High Tide Inc. (CSE:HITI) (OTCQB:HITIF) (FRA:2LY), an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that Canna Cabana has been granted membership into the Canadian Franchise Association (“CFA”). High Tide is now in possession of a Certificate of Membership for both the Smoker’s Corner retail smoking accessories business and the Canna Cabana retail cannabis business, which is unique in Canada.
The CFA is a national, not-for-profit association of more than 700 corporate members representing over 40,000 franchise business owners and is the recognized authority on franchising in Canada.
“With Canna Cabana becoming a CFA member, we can now offer potential franchisees the unparalleled choice between two CFA-approved cannabis-related businesses to purchase and operate,” said Raj Grover, President and Chief Executive Officer of High Tide. “With a total of nine current franchisees between the Smoker’s Corner and Canna Cabana businesses, franchising has been an integral part of High Tide’s retail strategy since 2014”, added Mr. Grover.
According to the CFA, Canadian franchises contribute over $100 Billion per year to the economy, create jobs for over 1.9 Million Canadians and enable over 76,000 hardworking franchisees to be their own boss as the owner of their own small business.
High Tide is a rapidly growing enterprise with a broad retail presence across Canada. It currently has 13 Canna Cabana retail locations licensed in Alberta and continues to advance its next 23 locations, which are under various stages of development and construction. In Ontario, two Canna Cabana-branded retail cannabis locations in Hamilton and Sudbury were opened on April 20th and both are performing strongly in each market, with the next branded retail cannabis location in downtown Toronto in the coming weeks. In Saskatchewan, the Company is progressing through the last steps to complete two pending retail cannabis acquisitions. Lastly, across Alberta, British Columbia and Nova Scotia there are 13 Smoker’s Corner accessories shops, of which five are corporately owned and eight are franchises.
About High Tide Inc.
High Tide is an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products. It is a vertically-integrated company in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc. 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 shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX: APHA) (NYSE: APHA), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) (FRA: 21P) and FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9).