High Tide Inc. Secures C$40 Million in Senior Secured Credit Facilities

High Tide Inc. announced it has secured credit approval for C$40 million in senior secured credit facilities from Bank of Montreal. These facilities will replace the company's existing senior credit facility upon closing, which is subject to customary conditions and expected within approximately 30 days. The new facilities include a C$25 million revolving facility with a three-year maturity for refinancing, working capital, and permitted acquisitions/investments, and a C$15 million delayed draw term loan to refinance existing second-lien debentures. CEO Raj Grover highlighted this as a significant development, enabling lower-cost capital for future growth. High Tide, a retail-forward cannabis enterprise, operates the Canna Cabana retail chain and distributes medical cannabis in Germany through its subsidiary Remexian Pharma GmbH. The company has received several accolades for its growth and performance.