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CIBC Upsizes Cannara Biotech Credit Facility to $22MM
Friday, December 3, 2021

Lenders/Participants Canadian Imperial Bank of Commerce [Lender]
Structure Credit Facility
Amount $22.000 Million
Borrower(s) Cannara Biotech
Description Refinancing and upsizing of its current bank credit facility to $22 million from $5.4 million with the primary use of additional funds to be allocated to the repayment of existing higher interest debt and capital expenditure at the Valleyfield facility to fund and accelerate new growing capacity. The existing credit agreement with Canadian Imperial Bank of Commerce ("CIBC") has been amended and restated without additional asset security.
Industry Cannabis
Related Tags Canadian Imperial Bank of Commerce, Cannabis, CIBC