Cannacord analyst updateBurcon NutraScience Corporation* (BU: $1.83), Net Change: $0.06, Change: 3.39%
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• Over the past few months, Merit has successfully secured a combined $95.0 million in new debt financing from a consortium of lenders that includes Export Development Canada, Farm Credit Canada, Agriculture and Agri-Food Canada and CIBC
• In light of this new financing, the company has decided to proactively expand pea and canola processing capacity at its new plant, slated to come online in December 2020
• This will involve the addition of new high throughput processing equipment capable of handling additional capacity with greater efficiency and at lower operating costs
• The plant was always expected to be built in phases, with Phase 1 initially forecasted to have input capacity of up to 20,000 MT per year through a budget of $80.0 million