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High Tide Inc. raised $15 million in a subordinated debt financing.

PUBLIC · HITIJun 13, 2024

Amount Raised

$15 Million

Round Type

Debt Financing

CalgaryRetail

Description

High Tide Inc. announced that it has executed binding subscription agreements with institutional credit providers for $15 million in subordinated debt financing. The five-year debt financing will provide more fuel for the company to continue growing while remaining free cash flow positive.

Quick answer

High Tide raised $15 Million in a Debt Financing round, dated June 13, 2024. High Tide is based in Calgary, Alberta, Canada.

How much did High Tide raise?
High Tide raised $15 Million in a Debt Financing round on June 13, 2024.
What does High Tide do?
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories.
Where is High Tide based and how big is it?
High Tide is based in Calgary, Alberta, Canada. Fundz records about 1,800 employees.
Who are the decision-makers at High Tide?
Fundz holds 2 contacts at High Tide, including the Senior Talent Acquisition Specialist. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Retail around the same time

Companies in the same sectors as High Tide that raised within 45 days of this round, from Fundz verified event records.

  • TALA raised $6.5M (Series A) on July 16, 2024.
  • Ascend Wellness Holdings raised $235M (Debt Financing) on July 15, 2024.
  • Crave Retail raised $6.2M on July 11, 2024.
  • Dagangan raised $5M (Series A) on July 4, 2024.
  • Hero Bread raised $21M (Funding Round) on June 27, 2024.
  • Zyod raised $18M (Funding Round) on June 24, 2024.

Who to call at High Tide, and when

A new round usually means High Tide is about to hire and buy. The teams that reach out first get the meeting.

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Company Information

Company

High Tide

Location

Unit 112, 11127 - 15TH STREET N.E.

Calgary, Alberta, Canada

About

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA,2 with 89 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its established e-commerce platforms including Grasscity.com, Smokecartel.com and Dailyhighclub.com, and more recently in the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB). Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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Related People

2 contacts
Verified contactsCarol D., Senior Talent Acquisition Specialist hidden hidden hiddenSee plans and pricing
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High Tide raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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