High Tide Inc. (NASDAQ: HITI) (TSXV:HITI) (FSE:2LYA) has closed a CA$19 million ($14.28 million) senior secured credit facility with connectFirst Credit Union Ltd., with an initial 5-year term, at connectFirst's floor interest rate.

"I am extremely pleased that we have successfully closed the credit facility with connectFirst today. Our business has been on an impressive upward trajectory for the past few years, and we are now able to further capitalize on this strong momentum with this facility in place. Our growth has been amplified since we launched our innovative discount club model in October 2021, and we are now operating 140 Canna Cabana locations across Canada with 36 additional stores having been added to our portfolio year to date through organic growth and accretive acquisitions. Our goal is to continue gaining market share rapidly by increasing our store count to 150 by the end of this calendar year and to 200 by the end of 2023. This credit facility from connectFirst will help us do exactly that and give us the ability …

Full story available on Benzinga.com