High Tide Inc. has closed C$40 million in senior secured credit facilities with Bank of Montreal, increasing financial flexibility and lowering capital costs. The facilities comprise a C$25 million revolving credit facility with a three-year term and a C$15 million delayed-draw term loan. The company used C$6 million from the revolving facility to repay its existing loan with ConnectFirst Credit Union. The remaining funds will support working capital, acquisitions, and investments. The delayed-draw term loan is intended to refinance High Tide's existing C$15 million second-lien debentures. High Tide operates Canna Cabana, Canada's largest cannabis retail chain with 229 domestic locations and one international store. The facilities are secured by substantially all company assets and subject to customary covenants.

Peakhill Capital has secured a $350 million credit facility for its flagship Peakhill Income Opportunity LP to finance multi-family housing projects across Canada. The facility was arranged by Bank of Montreal, Toronto-Dominion Bank, and National Bank of Canada as co-lead arrangers, with three additional banking partners participating. The financing will allow the fund to grow its lending portfolio to more than $1.2 billion nationwide. Peakhill will continue focusing on bridge financing for multi-family projects transitioning to Canada Mortgage and Housing Corporation financing, as well as CMHC-insured construction loans. The fund's portfolio currently includes more than 230 mortgage investments across Canada. Toronto-based Peakhill manages a servicing portfolio exceeding $17 billion and has financed more than $4 billion across 600 transactions year-to-date.

TORONTO and CHICAGO, Feb. 1, 2023 /CNW/ - BMO Financial Group (TSX: BMO) (NYSE: BMO), and its subsidiaries BMO Financial Corp. and BMO Harris Bank N.A. (together, "BMO"), announced today it has completed the acquisition of Bank of the West from BNP Paribas (XPAR: BNP).