Post by
tsxventurewatch on Feb 09, 2021 9:54am
EXPERION CLOSES $2.5 MILLION LOAN AGREEMENT
"We are pleased to close this transaction with the cash proceeds to be deployed to support our working capital requirements and to accelerate and increase inventory purchases from our strategic grow partners", said Jarrett Malnarich, CEO of Experion. "This is a significant development as access to capital underpins our key aggregation and distribution' model allowing us to more rapidly acquire feedstock, process, sell and then re-invest, accelerating our overall return on investment. Our inventory and feedstock purchases will be processed by the Company and sold to our provincial cannabis exchange customers across Canada to meet their increasing demand for our highly sought-after Citizen Stash branded products. Additionally, we believe this debt financing is an attractive alternative to an equity raise as it facilitates the acceleration of our growth trajectory while minimizing dilution of our capital structure and consequently provides a superior benefit to our shareholders."