Canna Cabana Extends Lead in Canadian Cannabis Retail Market — High Tide Inc.

Event summary

Canna Cabana's brand awareness reached 36% nationally, up from 29% in Q3 2025 and 11% in Q4 2021.
23% of consumers identified Canna Cabana as their most frequented retailer, more than double the next competitor.
Canna Cabana leads in all regional markets, with highest awareness in Alberta (55%) and Ontario (42%).
High Tide granted 103,000 employee stock options, exercisable at TSXV closing price.

The big picture

Canna Cabana's widening lead in brand awareness and consumer loyalty underscores the success of High Tide's discount club model and retail-forward strategy. The company's dominance in key regional markets positions it favorably as the Canadian cannabis retail landscape continues to evolve. High Tide's expansion into Germany's medical cannabis market further diversifies its revenue streams, but integrating these operations will be critical for sustained growth.

What we're watching

Market Expansion: How Canna Cabana will leverage its dominant position to expand into new regions or international markets.
Competitive Sustainment: Whether Canna Cabana can maintain its lead amid potential competitive responses from Fire & Flower and other retailers.
Operational Efficiency: The pace at which High Tide can integrate its retail-forward strategy with its medical cannabis distribution operations in Germany.