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Production / Operations

High Tide Opens New Canna Cabana in Scarborough, Ontario

By The Northwire Desk — AI Analysis Feb 09, 2026 · 08:00 HITI · 3.22 High Tide Inc.
HITI · Price

Executive Summary

  • High Tide opened a new Canna Cabana retail location at 3148 Kingston Road, Scarborough, Ontario, bringing its total store count to 219 across Canada and 95 in Ontario.
  • The company granted employees and consultants stock options for 145,500 common shares at $3.22 per share, vesting over two years.
  • An additional 1,300,530 restricted stock units (RSUs) were awarded to directors, officers, employees and consultants, with staggered vesting through February 2029.

Key Details

  • Store Opening
  • Location: 3148 Kingston Road, Scarborough, Ontario.
  • Opened for adult‑use recreational cannabis sales on February 9, 2026.
  • Increases High Tide’s total Canna Cabana footprint to 219 stores Canada‑wide; 95 stores in Ontario.

  • Site previously operated as Rockwood Cannabis, providing an established customer base and limited nearby competition.

  • Option Grant

  • 145,500 common share stock options granted.
  • Exercise price: $3.22 per share.
  • Expiration date: February 6, 2029.

  • Vesting schedule: over two years (details not specified).

  • RSU Grant

  • 1,300,530 RSUs granted to directors, officers, employees and consultants.
  • Vesting: 48% on Feb 6, 2027; 26% on Feb 6, 2028; remaining 26% on Feb 6, 2029.

  • Each RSU converts into one common share upon vesting.

  • Related‑Party Transaction

  • Directors received 795,106 of the RSUs.
  • Transaction deemed exempt from formal valuation and minority shareholder approval under MI 61‑101 because fair market value and consideration are each <25% of market capitalization.

  • No material change report filed within the usual 21‑day window; company states the shorter period is reasonable given circumstances.

  • Regulatory/Plan Information

  • All grants made pursuant to High Tide’s Omnibus Plan effective June 2, 2022.
  • Shares subject to a statutory four‑month‑plus‑one‑day hold period and any applicable foreign securities restrictions.

Notable Quotes

“This store opening reflects our continued focus on disciplined expansion and our commitment to opening locations that meet our strict financial and operational criteria,” – Raj Grover, Founder & CEO, High Tide.

“We look forward to welcoming this store into the Canna Cabana network and leveraging our proven operating model…to drive incremental performance,” – Raj Grover.

Read the original news release →

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Production / Operations