High Tide did not disclose the name of the lottery winner but according to the Toronto Star, High Tide was brought in to help open a legal recreational cannabis store at a potential location in Hamilton.
Earlier this month, High Tide signed a letter of intent with another lottery winner that is subject to approval by Ontario’s Alcohol and Gaming Commission, as it involves the acquisition of a minority interest in the retail store and an option to acquire a greater interest in the future, according to Growth Op.
High Tide chief executive Raj Grover said in a statement: “We are delighted to have been approached by the Second Winner in Ontario. Our decade of operational expertise and knowledge of the cannabis consumer, among other factors, have positioned us favorably to those seeking industry partners.”
High Tide Inc
High Tide started out in 2009 as an independent smoke shop chain catering to cannabis enthusiasts in western Canada, focusing on cannabis accessories and cannabis lifestyle products. The company soon became a dominant distributor and manufacturer.
Today, High Tide is a vertically-integrated company in the Canadian market with portfolio subsidiaries including RGR Canada Inc., Famous Brandz Inc., Kush West Distribution Inc., Smoker’s Corner Ltd., Grasscity.com, Canna Cabana Inc. and the majority of KushBar Inc.
Currently, High Tide has seven operating Canna Cabana stores, with 26 additional locations under various stages of construction. In Ontario, High Tide has already established itself as one of only a few suppliers of smoking accessories to the Ontario Cannabis Store, the sole online retailer of pot in the province.
