High Tide Completes $670,000 Chestermere Store Purchase
The cannabis retailer closed a cash asset deal that lifts its Canadian footprint to 234 stores and adds a Canna Cabana location in Alberta.
High Tide Inc. (HITI) completed the purchase of an established retail cannabis store at 100 Rainbow Road in Chestermere, Alberta, for $670,000 in cash, closing the asset-purchase transaction on October 8, 2026.
The company said it will rebrand the store under the Canna Cabana banner. The acquisition brings High Tide’s total store count to 234 locations across Canada, including 93 in Alberta.
Founder and Chief Executive Officer Raj Grover said the company had wanted to bring Canna Cabana to Chestermere for some time but was not prepared to compromise on location or economics just to enter the market.
Grover said the company secured an established, cash-flowing store at an attractive 2.1 times annualized Adjusted EBITDA.
He said this is how High Tide intends to approach growth opportunities going forward: remain opportunistic, stay disciplined on valuations, and pursue acquisitions or organic development based on what makes the most sense for shareholders.
The Chestermere purchase is a small cash asset deal rather than a share acquisition, and the company framed it as a test of its opportunistic, valuation-disciplined playbook rather than a platform combination.
High Tide’s stated plan is to keep adding Canna Cabana locations where the location and the multiple both clear its internal bar, with the Chestermere store now counted among its 234 Canadian sites.