Early in the week, Calgary-based cannabis company High Tide Inc. reported that it is taking yet another step to expand its bricks & mortar retail cannabis operations, by acquiring certain assets of Canadian Cannabis Media Corp. related to its store located at 1208 Davie St. in Vancouver’s Davie Village neighbourhood for $1.33-million (Cdn). The transaction includes assets of a completely outfitted store, allowing the company to open the store with minimal incremental costs. “This Canna Cabana store is an excellent example of our focus on site selection criteria, identifying the best possible opportunities in the best possible locations,” explained Founder, CEO Raj Grover. “This Davie St. store, with tremendous sales potential, is the perfect addition to our B.C. retail portfolio and brings us to the current provincial store cap of eight cannabis stores. We await British Columbia’s decision with respect to a potential increase to the cap, which, if enacted, we hope will help to reduce the illicit market share of cannabis sales and allow us to welcome and serve even more cannabis enthusiasts and the canna-curious through our innovative discount club model.” High Tide then reported that its Canna Cabana retail cannabis store at 20th St. West in Saskatoon in Saskatchewan is now operational, selling recreational cannabis products and consumption accessories for adult use. The opening of the location in the downtown community of Riversdale, that has been undergoing a transformation since 2009, will mark High Tide’s 158th Canna Cabana branded retail cannabis location in Canada, the eleventh in Saskatchewan. It is also the chain’s second in Saskatoon. Canna Cabana is the largest non-franchised cannabis retail chain in Canada, with 158 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario and growing. The Canna Cabana stores generally operate in the 1200 square feet range and Chris Wanzel and Michael Calderone at Urban Reform Realty handle the site selection in Ontario for the chain.
Urban Reform Realty Inc., 141 Adelaide St West, Suite 903, Toronto, Ontario M5H 3L5 (Chris Wanzel- 416/450-2098 [email protected]) & (Michael Calderone – 416/409-7903 [email protected])
High Tide Inc., #112, 11127 15th St. NE, Calgary, Alberta T3K 2M4 (855/747-6420 www.hightideinc.com)