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High Tide Announces Closing of $15 Million in Subordinated Debt Facility
High Tide Announces Closing of $15 Million in Subordinated Debt Facility Canada NewsWir...
About this update from High Tide, Inc.
[{"type":"text","content":"\n\n\n\n High Tide Announces Closing of $15 Million in Subordinated Debt Facility\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n This news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated\n \n August 31, 2023\n \n , to its short form base shelf prospectus dated\n \n August 3, 2023\n \n\n .\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Aug. 2, 2024\n \n\n /CNW/ - High Tide Inc. (\"\n \n High Tide\n \n \" or the\n \n \"Company\n \n \") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, is pleased to announce the initial closing of its previously disclosed subordinated debt facility of\n \n $1,000\n \n principal subordinate secured debentures of the Company (each, a \"\n \n Debenture\n \n \") for aggregate gross proceeds of\n \n $15 million\n \n (the \"\n \n Facility\n \n \") at a price of\n \n $900\n \n per Debenture, pursuant to subscription agreements with arm's length institutional credit providers (collectively, the \"\n \n Lenders\n \n \").\n \n\n\n\n\n\n\n\n\n The Debentures will mature on\n \n July 31, 2029\n \n , and bear interest at a fixed rate of 12% per annum on drawn amounts, payable quarterly. The Debentures are governed by the terms and conditions of a debenture trust indenture between the Company and Olympia Trust Company in its capacity as trustee and collateral agent. The Company may redeem the Debentures at any time prior to maturity, in whole or in part, upon sixty days' notice and payment of certain penalties as applicable. The Company's obligations under the Debentures are collate...