High Tide Inc. (NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA) announced the initial closing of its previously disclosed subordinated debt facility of $1,000 principal subordinate secured debentures of the company for aggregate gross proceeds of CA$15 million ($10.8 million) for CA$900 per debenture, under subscription agreements with arm’s length institutional credit providers. Details The Canadian cannabis retail giant said the debentures will mature on July 31, 2029, and bear interest at a fixed rate of 12% annually on drawn amounts, payable quarterly. Under the subscription agreements, the debentures will be drawn in two tranches, including the CA$10 million principal amount drawn on the initial closing and CA$5 million in November 2024. The final tranche, until drawn, will be subject to a 1% per annum standby fee.    The debentures are governed by ...