Mr. Omar Khan reports

HIGH TIDE CLOSES $40 MILLION SENIOR SECURED CREDIT FACILITIES

High Tide Inc. has closed its previously announced senior secured credit facilities with Bank of Montreal (BMO) in the aggregate principal amount of $40-million.

The closing follows the company's June 15, 2026, announcement that it had secured credit approval from BMO. In connection with the closing, High Tide has repaid and terminated its existing senior credit facility with ConnectFirst Credit Union.

Transaction details

The new credit facilities consist of:

• A $25-million committed revolving credit facility with a three-year maturity: A portion of this facility was used to repay the company's outstanding loan with ConnectFirst Credit Union of $6-million. The remaining capacity is available for general working capital and corporate purposes, permitted acquisitions and permitted investments.
• A $15-million committed delayed-draw term loan intended to refinance the company's existing $15-million second-lien debentures.

The new credit facilities are secured by substantially all of the assets of the company and certain of its subsidiaries and are subject to customary financial and other covenants.

About High Tide Inc.

High Tide is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. Its wholly owned subsidiary, Canna Cabana, is the second-largest cannabis retail brand globally. High Tide is uniquely built around the cannabis consumer, with wholly diversified and fully integrated operations across all components of cannabis, including:

• Retail: Canna Cabana is the largest cannabis retail chain in Canada, with 229 domestic and one international location. The company's Canadian brick-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, holding a growing 12-per-cent share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. The company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived CBD (cannabidiol) products. In 2025, the company became the first North American cannabis operator to launch a brick-and-mortar presence in Germany.
• Medical cannabis distribution: Remexian Pharma GmbH is a leading German pharmaceutical company, with a 14-per-cent share of the German medical cannabis market, built for the purpose of importation and wholesale of medical cannabis products at affordable prices. Among all German medical cannabis procurers, Remexian has one of the most diverse reaches across the globe and is licensed to import from 19 countries, including Canada.

High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies by The Globe and Mail's Report on Business in 2025 for the fifth consecutive year and was recognized as a top 50 company by the TSX-V in 2022, 2024 and 2025. High Tide was also ranked No. 1 in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023.

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