Company Overview - Chicago Atlantic BDC has closed over $2.8 billion in loans since its platform inception[11] - The company has a near-term pipeline under evaluation of approximately $780 million[11] - The total portfolio investment value is $308 million[11] - The gross weighted-average yield of the company's debt investments is 16.1%[11] - 100% of the company's current debt investments are senior secured[11] Financial Performance - Gross investment income for the quarter ended June 30, 2025, was $13.1 million[35] - Net investment income for the same quarter was $7.7 million[35] - Net asset value at the end of the period was $301.8 million[35] - Net investment income per share was $0.34[35] - Net asset value at the end of the period per share was $13.23[35] Portfolio Composition - Cannabis investments represent 78% of the total fair value of the company's investment portfolio[40] - Non-cannabis investments account for 22% of the portfolio[40] - Floating rate debt accounts for 76.3% of debt investments fair value[38] - 45.8% of floating rate debt is at their respective floor[38]

Corporate Updates - High Tide Inc. is making significant progress on a proposed transaction with a leading German medical cannabis importer and wholesaler, which is fully funded through a junior secured loan [2] - The company has appointed Sri Pavithra Priyalakshmi as Vice President of Digital and eCommerce, bringing over 11 years of global experience in eCommerce and digital transformation [3] - High Tide will participate in Canaccord Genuity's 45th Annual Growth Conference from August 12–14, 2025, with scheduled presentations and one-on-one meetings with institutional investors [4] Financial and Regulatory Developments - High Tide has filed a final short form base shelf prospectus to replace its expiring prospectus, allowing for financing opportunities up to C$100 million over a 25-month period [5][6] - The prospectus enables the company to offer various securities, including common shares and debt securities, and may be used for "at-the-market distribution" [8][9] - The company has retained an investor relations agency for a month to enhance communication with shareholders and the investment community, with a fee of USD $140,000 [12][13] Company Overview - High Tide is a leading retail-forward cannabis enterprise with a diverse portfolio, including Canna Cabana, which is the second-largest cannabis retail brand globally [14] - The company operates a suite of e-commerce platforms for cannabis accessories and has a strong brand roster, including Queen of Bud™ and Cabana Cannabis Co™ [15][16] - High Tide has been recognized as one of Canada's Top Growing Companies and ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023 [18]