High Tide Inc. says it plans to open its first Canna Cabana location in Peterborough, Ontario, pending regulatory approval, extending the Calgary-based cannabis retailer’s footprint into a city it has not previously served.
The new store, set for 400 Lansdowne Street East, is expected to begin selling recreational cannabis products and consumption accessories to adult consumers on October 15, 2026. Once open, it will bring High Tide’s Canadian Canna Cabana store count to 233 locations, including 107 in Ontario.
The Peterborough store sits on Lansdowne Street East, described by the company as one of the city’s main commercial arterials, in a plaza anchored by a major grocery store and a provincial liquor retailer, alongside national apparel and discount chains and a quick-service restaurant. High Tide said it believes the co-tenancy with the grocery and liquor outlets could provide recurring customer traffic that complements its retail model.
Expansion Strategy in the Kawarthas
Raj Grover, High Tide’s founder and chief executive officer, said the opening builds on the company’s strategy of pushing into new communities on the strength of Canna Cabana’s brand recognition and Ontario performance. He cited third-party research ranking Canna Cabana first nationally in brand awareness and as the retailer consumers surveyed said they shop at most often. Grover also said the company’s established Ontario stores generated average revenue of 2.4 times the provincial peer average in June 2026.
Grover added that the Peterborough opening follows a recent store launch in Lindsay and strengthens High Tide’s presence across the Kawarthas region. He said the company intends to fund growth through cash generated by its existing operations, remain selective on mergers and acquisitions, and maintain what he described as capital discipline while expanding Canna Cabana’s reach.
Share Grant to Directors
Separately, High Tide announced that its board of directors approved the grant of an aggregate of 352,674 restricted share units to certain company directors. The RSUs were issued under High Tide’s omnibus equity incentive plan and will vest 12 months after the grant date, with each unit convertible into one common share upon vesting, subject to a statutory hold period of four months and one day.
Because the recipients are company directors, the grant qualifies as a related-party transaction under Multilateral Instrument 61-101, which governs protections for minority shareholders in special transactions. High Tide said the transaction is exempt from formal valuation and minority shareholder approval requirements because the fair market value of the RSUs granted to related parties does not exceed 25% of the company’s market capitalization.
Company Background
High Tide trades on the Nasdaq and TSX Venture Exchange under the ticker HITI, as well as on the Frankfurt Stock Exchange. Its Canna Cabana subsidiary is described by the company as the largest cannabis retail chain in Canada and the second-largest cannabis retail brand globally, with operations spanning British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Excluding British Columbia, where provincial rules cap store counts at eight, High Tide says it holds a growing 14% share of the market. The company has also expanded internationally, launching a bricks-and-mortar cannabis presence in Germany in 2025 through its medical cannabis distribution arm, Remexian Pharma GmbH.
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