CALGARY, AB – September 24, 2025 – High Tide Inc. (NASDAQ: HITI), a prominent retail-forward cannabis enterprise, announced today the imminent opening of three new Canna Cabana retail locations, strategically situated in North York, Etobicoke, and Fort McMurray. These forthcoming additions will expand High Tide’s total Canadian store count to an impressive 210 locations, reinforcing its dominance in the nation’s burgeoning cannabis market. The new stores are slated to commence operations between September 26 and September 29, 2025.
Strategic New Cannabis Brand Launches in High-Growth Markets
The expansion sees High Tide further solidify its presence in key provinces, bringing its Alberta footprint to 89 stores and its Ontario presence to 88 locations. The selected new sites in North York and Etobicoke, Ontario, and Fort McMurray, Alberta, have been chosen for their high-traffic nature and potential for substantial revenue generation. Raj Grover, Founder and Chief Executive Officer of High Tide, emphasized the company’s commitment to securing premium real estate, stating, “We are focused on securing only the best real estate in markets with high growth and high revenue potential. Cities such as Fort McMurray, North York, and Etobicoke remain key to our strategy, and our multiple locations in these areas underscore our conviction in their long-term value.” The North York store, located at 1448 Lawrence Avenue East, will officially open its doors on September 26, 2025, offering recreational cannabis products and accessories.
High Tide’s Self-Funded Growth and Operational Discipline
High Tide continues to execute a robust expansion strategy, maintaining its target of opening two to three new locations per month. Crucially, this growth is entirely self-funded, financed through the company’s own profits, a testament to its strong operational efficiency and healthy financial performance. This disciplined approach allows High Tide to expand without reliance on external capital, a rarity in the capital-intensive cannabis sector. This strategy has yielded significant financial results, with High Tide reporting record revenue of $149.7 million and adjusted EBITDA of $10.6 million for its third fiscal quarter of 2025. The company also achieved a positive net income of $0.8 million, marking a substantial turnaround from previous quarters, and generated $7.7 million in free cash flow.
A Deepening Foothold in Ontario and Alberta’s Cannabis Landscapes
The Canna Cabana brand’s expansion into North York and Etobicoke strengthens High Tide’s position within Ontario, Canada’s largest cannabis market. As of August 2025, Ontario recorded over $201 million in cannabis sales, demonstrating consistent demand despite a slight year-over-year growth rate. High Tide’s strategy of focusing on high-demand areas and leveraging its discount club model, including its widely adopted Cabana Club loyalty program, is designed to capture and retain market share. In Alberta, which has shown a consistent growth trajectory with 6.3% year-over-year sales growth as of August 2025, the addition of the Fort McMurray location further cements High Tide’s status as the largest cannabis retailer in the province. Alberta’s comparatively liberal regulatory regime has historically fostered a competitive and rapidly growing market, where Canna Cabana has established a strong presence.
Continued Innovation and Future Outlook
These new store launches are indicative of High Tide’s ongoing commitment to innovation within the cannabis retail space. The company’s success is built on a foundation of operational excellence, a differentiated membership-based discount model, and strategic market entry. With a current Canadian market share of 12% and a reputation as one of Canada’s Top Growing Companies for four consecutive years, High Tide is well-positioned for continued success. Beyond its domestic achievements, the company is also pursuing international opportunities, notably its entry into the German market. This multi-faceted approach underscores High Tide’s ambition to be a global leader in the cannabis industry, driven by consistent new cannabis product launches and brand innovations.
The opening of these three new Canna Cabana locations signifies more than just an increase in store count; it represents High Tide’s unwavering execution of its growth strategy, its deep understanding of key provincial markets, and its commitment to delivering value to consumers and shareholders alike. The company anticipates announcing further openings in the coming weeks, signaling continued momentum through the end of the year.
