HITIF - High Tide raised equity offering to ~$20M

High Tide (HITIF) has increased the size of the previously announced bought deal offering from 31.25M to ~41.67M units at $0.48/unit, for gross proceeds of ~$20M. Each unit consists of one common share and one half of one common share purchase warrant exercisable at $0.58/share. Underwriters' over-allotment is an additional 15% of the units. Net proceeds will be used for opening new retail cannabis store locations, completing strategic acquisitions, general corporate and working capital purposes. Offering is expected to close on February 23.Previously: High Tide to raise $15M in stock offering (Feb. 1)

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High Tide raised equity offering to ~$20M