Calgary-based cannabis retailer High Tide has updated its long-term Canadian growth target and is contemplating international expansion.

High Tide has increased it Canadian expansion goal to 300 stores and is looking at possible moves into the U.S. and Europe as part of a global growth effort, the company said its in fourth quarter 2023 financial report.

“While we remain focused on our core Canadian business, like any forward-thinking company, we are always looking at what opportunities may exist to expand our Canna Cabana brand internationally,” said Raj Grover, High Tide’s founder and CEO, in a news release.

Grover said the company is seeing momentum regarding cannabis rescheduling in the U.S. United States that could pave the way for major U.S. exchanges to allow listed companies to engage in “plant-touching business.”

“We are also keenly following developments in Europe, particularly Germany, where adult use pilot projects focused on specialty cannabis shops could be possible in 2025,” added Grover. “These global opportunities, combined with an improved regulatory environment across many Canadian provinces, gives me confidence that 2024 will be yet another stellar year for High Tide as we work towards our ambition of building a top-tier global adult-use cannabis brand.

The company said it maintained its position as Canada’s largest non-franchised cannabis retailer. High Tide now has 163 Canadian locations after opening four new stores in the fourth quarter of 2023. The stores are located in B.C., Alberta, Saskatchewan, Manitoba and Ontario.

Photo: JHVEPhoto / Shutterstock.com