High Tide (TSXV: HITI) last night announced the filing of a preliminary short form base shelf prospectus. The filing will enable the company to raise up to $100.0 million in aggregate gross proceeds over a 25 month period.
The company did not indicate how soon it intends to raise funds under the prospectus, however it did note that the filing is valid for common shares, warrants, units, subscription receipts, debt securities, convertible securities, or any combination of the above. The company also specifically mentioned “at-the-market” offerings as being eligible under the prospectus, however it noted no such agreement has yet been entered.
Proceeds from the prospectus have been identified as potentially being used for capital projects, internal expansion, the acquisition of other operations or assets, as well as general corporate purposes. As always, further details on the use of proceeds are to be provided upon the filing of a final prospectus under the base shelf.
High Tide Holdings last traded at $0.76 on the TSX Venture.
Information for this briefing was found via Sedar and High Tide Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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