Loan & DebtJun 15, 2026, 09:17 AM
High Tide Secures C$40MM Senior Secured Credit Facilities
AI Summary
High Tide Inc. announced it has secured credit approval for new senior secured credit facilities totaling C$40 million with Bank of Montreal. These facilities will replace the Company's existing senior credit facility, providing C$25 million as a revolving facility for working capital and acquisitions, and a C$15 million delayed draw term loan to refinance existing second-lien debentures. The CEO, Raj Grover, highlighted this as a defining moment, securing lower-cost capital for the company's next phase of growth. Closing is anticipated within approximately 30 days, pending customary conditions.
Key Highlights
- High Tide secured credit approval for C$40 million in new senior secured credit facilities with Bank of Montreal.
- The new facilities will replace the Company's existing senior credit facility.
- A C$25 million committed revolving facility with a three-year maturity will refinance the connectFirst loan and provide C$19 million for working capital and acquisitions.
- A C$15 million committed delayed draw term loan will refinance existing C$15 million second-lien debentures.
- Closing is subject to customary conditions and is expected within approximately 30 days.
- CEO Raj Grover stated this is a defining moment, translating to materially lower-cost capital for future growth.
Price Impact
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