Cannabis seedlings at the new Aurora Cannabis facility in Montreal on November 24, 2017. Aurora has signed a deal to invest $10 million in High Tide. (RYAN REMIORZ / THE CANADIAN PRESS)

The debentures will also be convertible into shares of High Tide at a price of 75 cents per share.

High Tide has four cannabis retail stores in Alberta under the Canna Cabana banner, and a majority stake in KushBar Inc.

It also has plans to open more stores in Alberta as well as expand into Ontario and B.C.

In addition to the retail side, High Tide has two wholesale businesses — Famous Brandz and RGR Canada — and 19 Smoker’s Corner retail locations.