Business
High Tide Executes a Term Sheet for $40MM of Credit Facilities with a Big 5 Canadian Chartered Bank As its New Senior Lender
High Tide Executes a Term Sheet for $40MM of Credit Facilities with a Big 5 Canadian Chartered Ba...
About this update from High Tide, Inc.
[{"type":"text","content":"\n\n\nHigh Tide Executes a Term Sheet for $40MM of Credit Facilities with a Big 5 Canadian Chartered Bank As its New Senior Lender\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\n\n\n\n\n\nCanada NewsWire\n\n\nCALGARY, AB, May 5, 2026 /CNW/ - High Tide Inc. (\"High Tide\" or the \"Company\") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, today announced that it has signed a term sheet (the \"Term Sheet\") with one of Canada's Big 5 chartered banks (the \"Lender\") in respect of new senior secured credit facilities (the \"New Credit Facilities\") in the principal amount of $40 million. Upon closing, the New Credit Facilities will replace the Company's existing senior credit facility with connectFirst Credit Union. The name of the Lender will be disclosed at closing, which is expected within 60 days subject to satisfaction of customary conditions precedent.\n\n\n\n\n\n\n\n\"Having a Big 5 Canadian bank step in as our senior lender marks a clear inflection point for High Tide. This is not just access to capital — it is institutional validation of the scale, consistency, and quality of the business we've built. Our model is delivering where others have struggled, and that discipline is now translating into materially lower-cost capital,\" said Raj Grover, Founder and Chief Executive Officer of High Tide.\"In a capital-constrained industry, access to low-cost, scalable financing is a structural advantage — and one we intend to fully leverage. This facility strengthens our ability to pursue accretive growth across our retail network, scale our German platform through Remexian, and expand into other federally legal markets, all while maintaining the disciplined financial approach that continues to set High Tide apart,\" added Mr. Grover.Transaction DetailsThe Term Sheet is for two committed facilities:A $25 million committed revolver facility to be used to refinance the Company's loan with connectFirst at closing, general working capital / corporate requirements, permi...