High Tide Ventures Inc. (“High Tide” or the “Company”) today announced that Alberta Gaming, Liquor & Cannabis (“AGLC”) has found Canna Cabana and its key representatives suitable for a one-year conditional approval in relation to its applications for retail cannabis store licenses. This is a major step towards becoming fully-licensed in the province of Alberta, with store inspections and licensing forming the final steps of the in-depth process. Those two steps are expected to occur closer to the legalization of recreational cannabis across Canada on October 17, 2018.
Receipt of conditional approval enables the Company to proceed confidently with the construction of all Canna Cabana stores for which it has development permits. “Since being established in 2009, this is truly one of the most important moments in our company’s history”, said Raj Grover, President & Chief Executive Officer of High Tide. “Receiving this conditional approval is a testament to the quality of the team that has been assembled to achieve the goal of becoming a major player in the downstream Canadian cannabis industry”, added Mr. Grover. As of today, High Tide is well on its way to being one of the largest recreational cannabis retailers in Alberta and is currently in possession of nine development permits for stores in the municipalities of Calgary, Edmonton, Fort Saskatchewan, Lethbridge, Morinville and Whitecourt.
Further to beginning construction on its stores, the Company will now also embark on conducting large job fairs in Calgary and Edmonton in September. Over 400 staff are expected to be hired, ranging in roles from sales associates to general managers. All staff working in the Company’s stores across Alberta will be required to hold a Qualified Cannabis Worker registration and complete the Sellsafe Cannabis Staff training program. SellSafe is a mandatory social responsibility training program designed to help retail cannabis staff understand what their responsibilities are to customers. The program also helps workers understand Alberta’s cannabis laws and AGLC policies.
High Tide is positioned to be one of Canada’s largest retailers of cannabis products and lifestyle accessories. The Company expects to secure the maximum number of 37 retail cannabis outlets in Alberta, the maximum of eight expected locations in British Columbia, as well as a large number of leases for stores in Ontario as it prepares for the privatization of retail cannabis by April 1, 2019.
