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High Tide Inc. (NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA) announced Thursday that its Canna Cabana retail cannabis stores in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario will begin the sale of exclusive Queen of Bud branded 12 oz Black Obsidian, Rose Quartz and Clear Quartz Crystal Smoke Eliminating candles.
Why It Matters: The move comes on the heels of the closing of High Tide's acquisition of the Queen of Bud Brand, IP, trademarks and other assets in March 2024 and Alberta’s subsequent decision to permit the sale of white-label cannabis products this past May.
“Our announcement today follows Alberta’s decision to allow white label sales and underscores how timely our strategic acquisition of the Queen of Bud brand was," said High Tide CEO and founder Raj Grover. "The thoughtfulness and diligence of our team have brought these highly differentiated and unique products to market for our ELITE and Cabana Club members, starting tomorrow."
Read Also: Cannabis Retail Giant High Tide Elevates Online Shopping Experience, Here’s How
The following SKUs will be rolled out across the Canna Cabana store network as they are accepted by provincial wholesalers:
What's Next: Further SKUs of Zippo lighters and a cutting-edge selection of pre-rolls will launch in quick succession in provinces where regulations permit the sale of white-label cannabis products.
"New and innovative cannabis products, such as raspberry chocolate diamond infused rose petal blunts and a mango honey live rosin chamomile petal blunt, will launch in the coming weeks, as these products are accepted by provincial wholesalers,” Grover said.
Meanwhile, the latest business update follows High Tide's decision to enter into a joint venture with Positive Intent Events (PIE) to position itself in Canada's nascent cannabis hospitality sector. The announcement follows Alberta's decision to allow licensed cannabis pop-up stores at adults-only festivals and events.
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High Tide's shares traded 1.79% lower at $2.1801 per share at the time of writing on Thursday morning.
