High Tide (OTCMKTS:HTDEF) said that it is opening its 11th Canna Cabana retail store in Okotoks, Alberta.
Located at 100 Stockton Avenue, the Okotoks store is approved to sell smoking accessories and cannabis lifestyle products while the temporary suspension of incremental cannabis retail licensing by the Alberta Gaming, Liquor and Cannabis (AGLC) remains in effect.
The town of Okotoks is Alberta’s 11th-most populous place with about 30,000 current residents.
More Canna Cabana Stores Coming
High Tide is an Alberta-based cannabis company focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products.
The company currently has 36 of the 37 effective maximum number of development permits established by the AGLC for retail cannabis stores across Alberta. It expects to receive the one remaining development permit in the near future.
High Tide is working on its next 25 Canna Cabana locations, which are under various stages of development and construction.
In addition, the company is progressing through the necessary steps to complete two pending retail acquisitions in Saskatchewan and assisting with the opening and operation of three cannabis retail locations in Ontario located in the cities of Sudbury, Hamilton and Toronto.
Meanwhile, High Tide said that it entered into a debt settlement agreement with an arm’s-length service provider.
Under the agreement, the company is issuing up to 800,000 common shares at C$0.50 per common share to settle up the owed amount of up to C$400,000. The settlement is expected to be closed on or about April 2.
Additionally, the company said that it accepted the resignation of Paul Rosen from its board of directors.