Alberta-based cannabis firm High Tide (CSE: HITI) (OTCMKTS:HTDEF), which is focused on the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, has opened its eighth Canna Cabana retail store in the city of Beaumont, Alberta.
The Beaumont store is located at Unit #116, 5305 Magasin Avenue in Beaumont. The store received all municipal business requirements and is approved to sell smoking accessories and cannabis lifestyle products.
However, the temporary suspension of incremental cannabis retail licensing by the Alberta Gaming, Liquor and Cannabis (AGLC) will remain in effect, notes a statement from High Tide.
“As the fifth fastest growing community in Canada, it was important for High Tide to establish a retail location in Beaumont. We will strive to quickly become a part of this Leduc County community and integrate the outlet into the local economy for the long term,” High Tide CEO Raj Grover stated.
High Tide continues to build its 25 Canna Cabana retail cannabis outlets, which are under various stages of construction. The company has 33 development permits for its Canna Cabana and KushBar retail cannabis stores across Alberta. Further, it expects to receive the four remaining development permits required to achieve the AGLC’s effective maximum of 37 retail cannabis locations in the province in the short-term.
Recently, High Tide has been selected to assist two winners of the expression of interest lottery to apply for one of 25 cannabis-related retail operator licenses in Ontario, while maintaining around 20 conditional leases for future retail locations across the province.
The company is targeting having recreational cannabis stores in every province that permits privately-owned outlets.