Business
High Tide Secures Credit Approval for C$40MM of Senior Secured Credit Facilities
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, further to its press release dated May 5, 2026, it has secured credit approval for a loan agreement (the "Loan Agreement") with Bank of Montreal ("BMO") in respect of new senior secured credit facilities in the principal amount of C$40 million (the "New Credit Facilities"). Clo
About this update from High Tide, Inc.
CALGARY, AB, June 15, 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, further to its press release dated May 5, 2026, it has secured credit approval for a loan agreement (the "Loan Agreement") with Bank of Montreal ("BMO") in respect of new senior secured credit facilities in the principal amount of C$40 million (the "New Credit Facilities"). Closing of the New Credit Facilities remains subject to the satisfaction of customary closing conditions. Upon closing, the New Credit Facilities will replace the Company's existing senior credit facility. "This is a defining moment for High Tide and speaks volumes about the scale, consistency, and quality of what we have built. Our new senior lender's facility translates directly into materially lower-cost capital as we enter our next phase of growth," said Raj Grover, Founder and Chief Executive Officer of High Tide. TRANSACTION DETAILS The Loan Agreement provides for two committed facilities, on terms consistent with those announced by the Company on May 5, 2026: Funds under the New Credit Facilities will become available to the Company, following the satisfaction of customary closing conditions, at which time the Company's existing senior credit facility will be repaid. The Company will provide a further update upon closing expected within approximately 30 days. ABOUT HIGH TIDE High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. Its wholly owned subsidiary, Canna Cabana, is the second-largest cannabis retail brand globally. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including: Retail: Canna Cabana™ is the largest cannabis retail chain in Canada, with 228 domestic and 1 international location. The Company's Canadian bricks-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario, holding a growing 12% share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. T...