High Tide Closes Final Tranche Of $15M Debt, Plans Retail Growth
High Tide Inc. (NASDAQ:HITI), a leading cannabis retail enterprise, announced today the closing of the final tranche of its $15 million subordinated debt facility. This funding marks the completion of the company’s previously disclosed plan to issue secured debentures, providing crucial financial support as it continues to expand its cannabis retail and e-commerce operations.
Details Of The Debt Facility
The debt facility, structured through subscription agreements with institutional lenders, consisted of two tranches. The first tranche of $10 million was secured on July 31, 2024, while the second and final tranche of $5 million has now been issued. The …