Valley National Bancorp: High Tide Expands Cannabis Retail with New Store in Alberta
- High Tide Inc. opened a new Canna Cabana store in Drayton Valley, increasing its total outlets to 203 in Canada.
- The company plans to expand to 300 locations and grow Cabana Club membership to 3 million.
- High Tide granted 58,500 stock options to employees, emphasizing its focus on stakeholder value as it scales operations.
High Tide Expands Retail Footprint in Alberta Amid Growing Cannabis Market
High Tide Inc. continues its aggressive expansion strategy in the Canadian cannabis retail landscape with the opening of a new Canna Cabana store in Drayton Valley, Alberta. This latest location, which commenced operations on July 31, 2025, brings the total number of Canna Cabana outlets to 203 across Canada, with 88 situated in Alberta. Drayton Valley, recognized for its vibrant oil and gas economy, presents a promising market for cannabis retail due to its increasing population and strong local spending power. The new store is strategically located in a busy plaza, ensuring high visibility and accessibility for customers while maintaining a buffer from competing cannabis retailers.
High Tide's expansion into Drayton Valley aligns well with the company's broader vision of disciplined growth within high-value markets. CEO Raj Grover emphasizes the company's robust growth trajectory, highlighting plans to expand the total number of Canna Cabana locations to 300 and to increase its Cabana Club membership from over 2 million to 3 million. The strategic placement of the new store, near national grocery chains and other amenities, reflects High Tide's commitment to meeting local demand while capitalizing on the booming cannabis market in Alberta.
In addition to the retail expansion, High Tide also announces the granting of 58,500 incentive stock options to employees, which are designed to foster a motivated workforce as the company scales its operations. These options, exercisable at the closing price on the TSX Venture Exchange, will vest over a two-year period and expire three years from the grant date. This initiative underscores High Tide's focus on creating real-world value for its stakeholders, including employees, customers, and investors, as the company continues to solidify its position as the second-largest cannabis retail brand globally.
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