04:19 PM EDT, 07/16/2025 (MT Newswires) -- High Tide (HITI.V) after close of trade Wednesday said it closed a $30-million convertible-debt loan agreement with a subsidiary of Cronos Group ( CRON ) .

According to a company statement, High Tide intends to use this working capital to fund "future acquisitions and organic growth" as it seeks to expand its retail cannabis business and grow its domestic store network beyond 300 locations in Canada.

"Given our strong and proven business model, it's incredibly validating to receive a second vote of confidence in the form of an investment from a major licensed producer in recent months," said chief executive Raj Grover. "With this investment, which will serve entirely as growth capital, we're poised to accelerate our expansion both in Canada and internationally."

High Tide said Cronos ( CRON ) can convert the debt into shares priced at $4.20 and High Tide can repay the loan at any time without penalty.

High Tide shares closed up $0.12 to $3.30 on the TSX Venture Exchange.