High Tide Inc V.HITI

Alternate Symbol(s): HITI

High Tide Inc. is a retail-focused cannabis company. Its segments include Bricks-and-mortar and E-commerce. Bricks-and-mortar operations includes the Canadian bricks-and-mortar locations, inclusive of the Canadian warehouse which supports the distribution of accessories and other items to the Canadian stores. Its E-commerce operations include the Company’s United States and international subsidiaries, inclusive of the United States warehouse which supports the distribution of accessories and other items to the United Sates and international subsidiaries. Bricks-and-mortar sales are conducted under the Company’s Canna Cabana brand, CBD product sales are conducted online under the FABCBD, Blessed CBD and NuLeaf brands, and online sales through e-commerce platforms are conducted under the Company’s Grasscity, Smoke Cartel, Daily High Club and Dankstop brands. Its brand Queen of Bud sells products across Canada both direct to consumers and through third-party licensed cannabis stores.

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Post by thebeston Jun 25, 2021 8:40pm

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Post# 33455036

canada post second straight month of record cannabis sales

Canada posts second straight month of record cannabis sales

Published June 23, 2021

Canada posted record cannabis sales for the second consecutive month in April, with adult-use marijuana retailers in British Columbia and Ontario leading the way.

April’s online and in-store sales of regulated cannabis amounted to 309.7 million Canadian dollars ($251 million), 3.8% higher than March’s CA$298.3 million, according to Statistics Canada’s latest figures.

British Columbia led provinces with a gain of CA$5.4 million, or 13%, over the previous month. Sales in Vancouver, the biggest city in B.C., grew a whopping 30% month–on-month to CA$16.7 million in April, a major improvement for a city which has struggled to convert consumer spending to the regulated market.

Ontario came in second place in terms of monthly sales growth, adding CA$4.8 million over March, despite being locked-down to fight the COVID-19 pandemic for part of April.

Ontario’s sales grew 4.6% over the previous month to CA$108.2 million in April.

New store openings in Toronto and Ottawa helped boost sales in the two cities to CA$41.6 million and CA$10.4 million, respectively.

Saskatchewan and Manitoba were the only two other provinces to post meaningful sales increases.

Sales in Saskatchewan grew 5.3% for the month to CA$13.4 million in April, whereas Manitoba’s online and in-store marijuana sales rose to CA$11.5 million, a 2.7% increase.

The only province to post a meaningful decline was New Brunswick, which sold CA$140,000 less worth of cannabis in April compared to March, a 2.1% retraction.

No sales data was available for Yukon, Prince Edward Island, or Nunavut.

Sales in some of Canada’s biggest cities in April, compared to March, were as follows: