High Tide Inc. has closed C$40 million in senior secured credit facilities with Bank of Montreal (BMO), giving the cannabis retailer additional funding for working capital, acquisitions and refinancing existing debt.

The Calgary-based company announced the closing Wednesday, following its June 15 disclosure that it had received credit approval from BMO. High Tide also repaid and terminated its previous senior credit facility with ConnectFirst Credit Union.

The new financing includes a C$25 million revolving credit facility with a three-year maturity. High Tide used C$6 million from the facility to repay its outstanding ConnectFirst loan, with the remaining capacity available for general corporate purposes, working capital, permitted acquisitions and investments.

The agreement also includes a C$15 million delayed-draw term loan intended to refinance the company’s existing C$15 million in second-lien debentures.

High Tide said the facilities are secured by substantially all of the assets belonging to the company and certain subsidiaries. They are also subject to customary financial and operating conditions.

The company said the financing increases its financial flexibility while reducing its cost of capital.

High Tide operates Canna Cabana, Canada’s largest cannabis retail chain, with 229 locations in the country and one international location. Its Canadian stores operate in Alberta, British Columbia, Manitoba, Ontario and Saskatchewan.

The company also owns Remexian Pharma GmbH, a German medical marijuana importer and wholesaler. High Tide entered Germany’s brick-and-mortar cannabis market in 2025.

High Tide’s shares trade on the Nasdaq and Toronto Stock Exchange under the ticker symbol HITI.