High Tide restructures $8.9M of debt

High Tide Inc. has successfully reduced its debt by $8.9 million with a key lender, shared the company in a press release. The debt was restructured, and the outstanding payment of $5,024,546 will be settled with High Tide shares. The company will also make future payments semi-annually, and they can be made in cash or High Tide shares with certain conditions. This restructuring gives High Tide more financial flexibility for opening new stores. High Tide's CEO, Raj Grover, expressed excitement about reducing the debt while growing the company's revenue and generating cash flow.

In simpler terms, High Tide has managed to cut down a big chunk of their debt with the help of a major lender. They'll pay a part of it using their own company shares. Plus, they've changed how they make future payments to this lender, making it easier for them to open more stores. The CEO is happy about this because it means they can expand while owing less money.

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High Tide

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