RE:RE:IR on 55M from BMOto ensure we have the capital available to execute on growth opportunities we see in the market. There's a little bit between the lines here to be read. Wonder what opportunities they see in the market that they can capitalize on, while we are hitting 3 year lows in the sector...
watchmeplz wrote: So basically your saying they want to waste around 300k a month in interest only charges to have it sit in their account? Doesn't seem to add up does it?
Cannabiznas wrote: The initial draw down of $55 million has not been used; however, it has been added to the cash available to us to use for general working capital purposes and going forward, to ensure we have the capital available to execute on growth opportunities we see in the market.
This initial $55 million draw down also clearly demonstrates to investors that we have the capital available to us to execute going forward. With $36 million in cash on the balance sheet as of September 30th and the initial draw down available to us of $55 million, we have plenty of runway ahead.