High Tide Raises Long-Term Targets to 3 Million Cabana Club Members and 350 Canna Cabana Locations Across Canada.

High Tide Inc., a Canadian cannabis retailer, is celebrating four years of its Cabana Club discount model. The company has raised its long-term targets to 3 million Cabana Club members and 350 Canna Cabana locations across Canada. Canna Cabana has been named Canada's most recognizable cannabis retailer. Since its launch in 2021, Cabana Club membership has grown by 800% to 2.2 million members, with purchases accounting for over 90% of in-store sales.

High Tide Inc., a leading Canadian cannabis retailer, is celebrating four years since the launch of its Cabana Club discount model. The company has raised its long-term targets to 3 million Cabana Club members and 350 Canna Cabana locations across Canada. Canna Cabana has been recognized as Canada's most recognizable cannabis retailer.

Since its inception in 2021, Cabana Club membership has grown by an impressive 800% to reach 2.2 million members. These members account for over 90% of in-store sales, demonstrating the program's success and popularity among cannabis consumers.

The company's recent expansion plans include the opening of three new Canna Cabana-branded locations across Ontario and Alberta, located in North York, Etobicoke, and Fort McMurray. These openings bring the total store count to 210 Canna Cabana-branded locations across Canada, with 89 in Alberta and 88 in Ontario High Tide to Open Three New Canna Cabana Locations in Ontario, Alberta^[1].

High Tide's founder and CEO, Raj Grover, stated, "Momentum is clearly building across our network as we accelerate store openings in the second half of this year." The company's disciplined approach allows it to expand without relying on external capital, self-funding growth with its strong free cash flow profile High Tide to Open Three New Canna Cabana Locations in Ontario, Alberta^[1].

High Tide's share price fell 1% on Tuesday, closing at $5 on the TSXV. Despite this, the company remains optimistic about its future growth prospects, with Grover expecting additional store openings in the weeks and months ahead, right through to year-end High Tide to Open Three New Canna Cabana Locations in Ontario, Alberta^[1].

The company's long-term targets indicate a significant expansion in both membership and store count. The goal is to reach 3 million Cabana Club members and 350 Canna Cabana locations, representing a two-thirds increase from the current 210 locations High Tide Celebrates Four Years of the Cabana Club^[2].

High Tide Inc.'s success is further validated by a recent retailer insights report, which highlighted Canna Cabana's leading market position. The report found that 29% of cannabis consumers nationally were aware of the Canna Cabana brand, more than any other retailer in the country .