High Tide Closes C$40 Million Credit Facility With BMO to Lower Financing Costs

Nicolás RodríguezBy , Managing Editor
Burn After Reading The 30-second intel for operators and investors

High Tide closes C$40 million in senior secured credit facilities with BMO, a C$25 million revolver and a C$15 million delayed-draw term loan, aimed at lowering its cost of capital and refinancing existing debt.

  • Operators: A major Canadian bank is lending to a cannabis retailer, with the facilities secured by substantially all of High Tide's assets. Funds go to working capital, acquisitions and refinancing, showing mainstream credit can replace costlier debt.
  • Investors: High Tide is swapping a ConnectFirst loan and C$15 million of second-lien debentures for bank financing, which the article says lowers its cost of capital. The revolver has a three-year maturity and also supports acquisitions.
  • Do now: Review your current debt stack, including second-lien or credit union loans, and list which obligations a bank-backed revolver or term loan could refinance.
Short on time? You’re done. Want the numbers?Keep reading ↓

High Tide (NASDAQ: HITI) has closed C$40 million in senior secured credit facilities with Bank of Montreal (BMO), providing the cannabis retailer with additional financial flexibility while reducing its cost of capital.

The financing package includes a C$25 million revolving credit facility with a three-year maturity and a C$15 million delayed-draw term loan.

Approximately C$6 million from the revolving facility was used to repay the company’s existing loan with ConnectFirst Credit Union, while the remaining funds will support working capital, acquisitions and other corporate initiatives.

The term loan is intended to refinance High Tide’s existing C$15 million second-lien debentures.

The facilities are secured by substantially all of the company’s assets and represent another step in High Tide’s strategy to strengthen its balance sheet as it continues expanding its cannabis retail operations in Canada and internationally.

The conversations shaping the industry’s next phase are happening beyond quarterly earnings. Join hundreds of executives, investors, and policymakers at IgniteIt’s Market Spotlight: Colorado on September 18 in Denver for a full day of insights on capital markets, M&A, cultivation, retail, regulation, and the future of one of America’s most established cannabis markets.

Learn more and register here: Market Spotlight: Colorado 2026

Related coverage

Image
Nicolás Rodríguez
August 5, 2026
Managing Editor at IgniteIt, covering the business, finance and policy of cannabis. 1,500+ articles for High Times, Benzinga and El Planteo.
Share: