High Tide Buys Chestermere Cannabis Store for $670,000 in Cash

High Tide Inc. (HITI ) announced on October 9, 2026 that it has completed the acquisition of an established retail cannabis store at 100 Rainbow Road in Chestermere, Alberta, for $670,000 in cash. The store will be rebranded under the company’s Canna Cabana banner.

The Calgary-based company said in a news release that the arm’s length transaction closed on October 8, 2026, and that the purchase price was paid entirely in cash on closing. The price represents 2.1 times the store’s annualized Adjusted EBITDA of approximately $316,000 for the three months ended August 31, 2026, the company said.

With the acquisition complete, High Tide’s store count stands at 234 locations across Canada, including 93 in Alberta, according to the company.

Store Location and Trade Area

According to the company, the store occupies a high-visibility unit along one of Chestermere’s main arterial roads, giving it strong exposure to local residents as well as commuters travelling to and from Calgary. The unit is co-tenanted with a national quick-service restaurant and several specialty retail and personal service businesses, and sits next to a major grocer and a liquor store.

The same building is home to a range of professional service tenants that bring steady traffic to the property throughout the day. The company said these daily-needs destinations generate the kind of repeat, convenience-driven shopping trips that suit Canna Cabana’s discount club model. Surrounded by residential neighbourhoods in every direction, the store is positioned to serve both its immediate community and customers from across the wider area who travel the route each day, the company said.

“Great opportunities are worth waiting for. We’ve wanted to bring Canna Cabana to Chestermere for some time, but we weren’t prepared to compromise on location or economics just to enter the market. Today, we’re pleased to have secured an established, cash-flowing store at an attractive 2.1 times annualized Adjusted EBITDA. This is exactly how we intend to approach our growth opportunities going forward: remain opportunistic, stay disciplined on valuations, and pursue acquisitions or organic development based on what makes the most sense for our shareholders,” said Raj Grover, founder and chief executive officer of High Tide.

Grover said the Chestermere site “checks many of the boxes we look for,” pointing to its strong visibility, growing residential neighbourhoods and a national discount grocer nearby. He said the company will remain selective as it continues expanding across Canada, focusing on quality locations and strong returns, and that it is excited to bring its club’s value proposition to Chestermere and to many more communities across the country.

Company Background

High Tide describes its wholly owned subsidiary Canna Cabana as the largest cannabis retail chain in Canada, with 234 domestic locations and one international location, and as the second-largest cannabis retail brand globally. The company’s Canadian bricks-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Excluding British Columbia, where store counts are capped at eight, the company said it holds a growing 14% share of the market.

According to the company, Canna Cabana became the first cannabis discount club retailer in the world in 2021, and in 2025 High Tide became the first North American cannabis operator to launch a bricks-and-mortar presence in Germany. The company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived products.

In medical cannabis distribution, High Tide’s Remexian Pharma GmbH subsidiary is a German pharmaceutical company built for the importation and wholesale of medical cannabis products. The company said Remexian holds a 10.5% share of the German medical cannabis market and is licensed to import from 22 countries, including Canada.

High Tide was named one of Canada’s Top Growing Companies by the Globe and Mail’s Report on Business in 2026 for the sixth consecutive year, according to the company, and was recognized as a top 50 company by the TSX Venture Exchange in 2022, 2024 and 2025. The company also said it ranked first in the retail category on the Financial Times list of Americas’ Fastest Growing Companies for 2023. High Tide trades on the Nasdaq and the TSX Venture Exchange under the symbol HITI and on the FSE under the symbol 2LYA.