High Tide closes C$40M BMO credit facilities, refinances existing debt
What's the deal? Canadian cannabis retailer High Tide (Nasdaq: HITI) has closed C$40 million in senior secured credit facilities with Bank of Montreal (BMO)Dealroom has a profile for this one. Try Dealroom →. The company announced the closing on August 5, 2026, in Calgary.
How's it structured? The facilities comprise a C$25 million committed revolving credit facility with a three-year maturity and a C$15 million committed delayed-draw term loan. The term loan is intended to refinance High Tide's existing C$15 million second-lien debentures.
Why now? The closing follows a June 15, 2026, announcement that High Tide had secured credit approval from BMO. As part of the transaction, the company repaid and terminated its existing C$6.0 million senior credit facility with ConnectFirst Credit UnionDealroom has a profile for this one. Try Dealroom →, drawing on the new revolver to do so.
What's the endgame? High Tide said the new facilities "materially increase financial flexibility and lower the Company's cost of capital." Remaining revolver capacity is earmarked for working capital, corporate purposes, permitted acquisitions, and permitted investments.
What does the company do? High Tide operates Canna CabanaDealroom has a profile for this one. Try Dealroom →, which it calls the largest cannabis retail chain in Canada, with 229 domestic locations and a 12% market share. In 2025, it became the first North American cannabis operator to open a bricks-and-mortar presence in Germany, where its Remexian PharmaDealroom has a profile for this one. Try Dealroom → subsidiary holds a 14% share of the medical cannabis market.
The signal: Swapping credit union debt and second-lien debentures for a bank-backed facility marks a step up in financing for a cannabis operator — a sector that has historically struggled to access mainstream lenders. Securing terms from a major bank like BMO points to growing institutional comfort with established retail players.
Image credit: High Tide
Read more: Canada Newswire
