High Tide Receives $8.4 Million from First Tranche Closing of Convertible Debenture Offering

CALGARY , April 22, 2019 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (HITI.CN) (HTDEF) (2LY.F), an Alberta -based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has closed the first tranche of the sale of unsecured convertible debentures (the “Debentures”) of the Company under the non-brokered private placement (the “Offering”) previously announced on April 10, 2019 , with gross proceeds of $8,360,000 to date. High Tide intends to close a second and final tranche of the Offering for aggregate gross proceeds of up to $15,000,000 , which has been increased from the original amount of $10,000,000 due to strong investor demand. The outstanding principal amount under the Debentures is convertible at any time before maturity and at the option of the holder, into common shares of the Company (the “Shares”) at a conversion price of $0.75 per Share.

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