High Tide Secures $3.85M Subordinated Debt Financing, CA$30M Credit Facilities Delayed

High Tide Inc. (NASDAQ: HITI) (TSXV:HITI) (FSE:2LYA) has closed a short-term debt financing from an arm's length credit provider for CA$5 million ($3.85 million). The company has chosen to proceed with a small debt facility at this time as the company's proposed non-dilutive credit facilities with ConnectFirst Credit Union for CA$30 million has been delayed until July 2022.

The company issued the lender a non-convertible subordinated secured debenture of the company. The debenture matures on June 21, 2023 and bears interest at a fixed rate of 10% per annum, payable quarterly. The company shall have a right to prepay part of or the entire principal amount of the debentures at par plus accrued and …

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