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Bullboard - Stock Discussion Forum Cannara Biotech Inc. LOVFF


Primary Symbol: V.LOVE

Healthcare Cannabis
Cannara Biotech Inc. is a Canada-based vertically integrated producer of premium-grade cannabis and cannabis-derivative products for the Quebec and Canadian markets. It operates through its wholly owned subsidiaries, Cannara Biotech (Quebec) Inc. and Cannara Biotech (Valleyfield) Inc. The Company owns two mega facilities based in Quebec spanning over 1,650,000 square feet, providing the Company... see more

TSXV:LOVE - Post Discussion

Cannara Biotech Inc. > BMO 50m loan
View:
Post by Flymore123 on Apr 08, 2024 12:09pm

BMO 50m loan

Cannara announced today that it has closed on a $50M credit facility led by BMO Commercial Banking.  The credit facility, effective May 31, 2022, includes a three-year term loan for $45 million with an accordion for up to an additional $10 million and a $5 million line of credit. Additional favorable terms attached to the credit facility include a declining interest rate over time as the Company hits certain covenant thresholds and the ability to repay the facility without penalty at any time.

Does somebody know what is the status of this loan?

We are april 8th 2024.  Do I understand they are at close to 2/3 of the 3 years term and what is the status on the balance?
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Cannara Biotech Inc.