Stock To Watch 2020 – RICH TV LIVE – High Tide Inc.

Stock To Watch 2020 – RICH TV LIVE – High Tide Inc.

April 11, 2022 0 By bestcbdadmin

Stock To Watch 2020 – RICH TV LIVE – High Tide Inc. – JANUARY 9, 2020 – THIS COMPANY IS A SECRET BUT THE RICH TV LIVE COMMUNITY LOVES SECRETS 🤑 – High Tide Inc. (“High Tide” or the “Company”) (CSE:HITI) (OTCQB:HITIF) (Frankfurt:2LY), a retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, is pleased to announce that it has entered into a loan agreement (the “Loan Agreement”) with Windsor Private Capital (“Windsor”), a Toronto-based merchant bank, to secure a senior secured, non-revolving term credit facility (the “Facility”) in the amount of up to $10 million. The Facility, which represents Windsor’s first investment in the cannabis industry, provides High Tide with the needed flexibility to carry out its corporate objectives for 2020, which includes expanding into Ontario as the largest cannabis market in Canada. High Tide intends to use the Facility to fund the acquisition and build-out of retail cannabis stores in Alberta and Ontario, as well as for general working capital purposes.

High Tide Inc. (CNW Group/High Tide Inc.)

”We are thrilled to have established a significant financial relationship with Windsor Private Capital. This credit facility ensures High Tide will have access to sufficient and timely capital to execute on its corporate strategy and maximize shareholder value in 2020,” said Raj Grover, High Tide’s President & Chief Executive Officer. “We welcome the opportunity to be a partner to High Tide, providing the financial capital and flexibility High Tide needs to achieve its growth potential this year. High Tide has executed well on its growth strategy to date, and with our funding, we believe it is well positioned to build upon its position as one of Canada’s leading retailers of licensed cannabis products and accessories,” added Jordan Kupinsky, Windsor’s Senior Vice President & Managing Director.

The Facility, which will become effective upon completion of customary conditions, has an initial term of one year and provides High Tide with immediate access to an initial $6 million (the “Initial Facility Amount”) in working capital, that can be drawn down at High Tide’s discretion, and subject to satisfaction of certain conditions, will provide High Tide with access to an additional $4 million (the “Remaining Facility Amount”). Amounts drawn down under the Facility will bear interest at a rate of 11.5% per annum, payable monthly, in arrears, on the last day of each calendar month. Provided that certain conditions are satisfied, the Facility will automatically extend for an additional one-year term.

The principal amount advanced under the Facility is convertible, during its term at any time after an initial 6 month hold period, and at Windsor’s option, into common shares in the capital of High Tide (“Shares”) at a conversion price of $0.17 (the “Conversion Price”). The Conversion Price is subject to downward adjustment if High Tide, at any time during the term of the Facility, issues securities at a price deemed lower than the conversion price then in effect.




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