High Tide Acquires Established Cannabis Store in Chestermere, Alberta
Key Highlights
- ➤High Tide acquires Chestermere cannabis store for $670,000 in cash
- ➤Store generates approximately $316,000 annualized Adjusted EBITDA
- ➤Transaction values store at 2.1 times annualized Adjusted EBITDA
- ➤Acquisition lifts Canna Cabana's Canadian store count to 234
- ➤Alberta store count rises to 93 following the acquisition
Expert Statements
Raj Grover, Founder and Chief Executive Officer of High Tide
“Great opportunities are worth waiting for. We've wanted to bring Canna Cabana to Chestermere for some time, but we weren't prepared to compromise on location or economics just to enter the market. Today, we're pleased to have secured an established, cash-flowing store at an attractive 2.1 times annualized Adjusted EBITDA. This is exactly how we intend to approach our growth opportunities going forward: remain opportunistic, stay disciplined on valuations, and pursue acquisitions or organic development based on what makes the most sense for our shareholders.”
Raj Grover, Founder and Chief Executive Officer of High Tide
“Retail success starts with the right location, and this one checks many of the boxes we look for. Strong visibility, growing residential neighbourhoods, and a national discount grocer nearby make it an excellent fit for our innovative discount club model. As we continue expanding across Canada, we'll remain selective, focusing on quality locations and strong returns. We're excited to bring our Club's unbeatable value proposition to Chestermere and many more communities across the country.”
High Tide Acquires Established Cannabis Store in Chestermere, Alberta PR Newswire
CALGARY, AB, Oct. 9, 2026 /PRNewswire/ -- High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it has completed the acquisition of an established retail cannabis store located at 100 Rainbow Road in Chestermere, Alberta (the "Store") for $670,000 in cash (the "Transaction"). The Store will be rebranded under the Canna Cabana banner, bringing High Tide's total store count to 234 locations across Canada and 93 in the province of Alberta.
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