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Bank of Montreal Provides $30MM Credit Facility to Sundial Growers

March 08, 2019, 08:00 AM
Filed Under: Cannabis

Sundial Growers Inc. announced that it has entered into a $30 million credit facility with the Bank of Montreal (BMO). The Credit Facility closed on February 22, 2019. The BMO Credit Facility will enable Sundial to finance its European initiatives, accelerate the company's Help and Play opportunity areas and satisfy general working capital requirements in Canada. The Credit Facility also strengthens Sundial's balance sheet and reduces the company's cost of capital.

"The partnership with BMO, one of Canada's leading banks, demonstrates their confidence in what Sundial is accomplishing," said Torsten Kuenzlen, CEO of Sundial. "This will enable us to continue our global expansion and support our purpose of proudly crafting pioneering cannabis brands to Heal Help Play(TM).

Sundial grows premium quality, small-batch cannabis with its best-in-class facilities. The company differentiates itself from other licensed producers by growing "craft-at-scale" cannabis using purpose-built modular systems (Solaria Modules) and award-winning genetics. Sundial operates two facilities in Alberta, including our flagship facility in Olds and a second production facility in Rocky View, with plans to build a third facility in British Columbia.

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