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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
WeedMD Closes Definitive Agreement for $30MM Credit Facility with LiUNA Pension Fund
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Lenders/Participants
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LiUNA Pension Fund of Central and Eastern Canada [Lender]
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Structure
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Credit Facility
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Amount
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$30.000
Million
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Borrower(s)
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WeedMD Inc.
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Description
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The Credit Facility, maturing in August 2022, will be used for general working capital purposes, capital expenditures and general corporate requirements, and will provide the Company with significant financial capacity to drive commercial initiatives during its next stage of growth. The interest rate for the Credit Facility is set at 15% with the option, at the Company’s discretion, to capitalize interest in lieu of cash payments of interest. The Credit Facility is secured by the assets of the Company and its subsidiaries, including the Company’s production facilities, and contains customary financial and other covenants, as well as typical conditions precedent for a transaction of this nature. LPF’s security under the Credit Facility is in second position to the Company’s senior creditor.
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Industry
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Cannabis
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| Related Tags |
Cannabis
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ABL Advisor
Deal Tables
2024
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