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High Tide ( (TSE:HITI) ) just unveiled an update.
On May 5, 2026, Calgary-based High Tide Inc. said it executed a term sheet with one of Canada’s Big 5 chartered banks for $40 million in new senior secured credit facilities, signalling a shift from its existing lender, connectFirst Credit Union. Management framed the move as institutional validation that should lower its cost of capital, bolster liquidity, and support expansion in Canada, Germany via Remexian, and other federally legal markets.
The package comprises a $25 million revolving facility with a three-year term, which will refinance an expected balance of just over $6 million at connectFirst and leave nearly $19 million of undrawn capacity, plus a $15 million delayed draw term loan earmarked to refinance $15 million of second-lien debentures. The loans carry a floating rate of Prime plus 2%–3% tied to leverage and include covenants on debt-to-EBITDA and fixed-charge coverage that the company said its internal models comfortably meet, following a competitive process involving multiple Tier 1 lenders.
The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.
Spark’s Take on HITI Stock
According to Spark, TipRanks’ AI Analyst, HITI is a Neutral.
The score is held back primarily by weak financial quality (persistent losses and elevated leverage) and bearish technicals (price below major moving averages with negative MACD). Offsetting these, cash flow has improved meaningfully and the latest earnings call was constructive with stronger adjusted EBITDA/free-cash-flow trends and clear growth initiatives, but valuation remains relatively expensive given current profitability.
To see Spark’s full report on HITI stock, click here.
More about High Tide
High Tide Inc. is a community-grown, retail-forward cannabis enterprise with wholly diversified and integrated operations spanning retail, e-commerce, and medical cannabis distribution. Through its Canna Cabana chain, the company operates 221 Canadian stores and one international outlet, holding about 12% of the Canadian market, and was the first cannabis discount club retailer and a first mover with a bricks-and-mortar presence in Germany. Its German subsidiary, Remexian Pharma, imports and wholesales medical cannabis from 19 countries, reinforcing High Tide’s presence in federally legal markets and underpinning its recognition among Canada’s fastest-growing companies.
Average Trading Volume: 60,623
Technical Sentiment Signal: Sell
Current Market Cap: C$290.9M
See more insights into HITI stock on TipRanks’ Stock Analysis page.