Zenabis Global Inc. (“Zenabis”) is pleased to announce it has entered into a credit agreement with a Canadian private debt fund (the “Agent”), as an agent on behalf of certain lenders, in respect of a committed revolving credit facility in a principal amount of up to $60 million, subject to borrowing base requirements based on eligible receivables, inventory and real estate (the “Facility”). Advances made under the Facility will bear interest at a rate per annum equal to the greater of 10% and the Toronto-Dominion Bank‘s prime rate, from time to time, plus 7.55%, calculated daily and payable monthly. The Facility will have a maturity date of January 21, 2022, and maybe extended for up to two additional periods of 180 days each with the mutual agreement of the Company and the Agent.

Published Ncv Newswire, New Cannabis Ventures, 01/22/2021 08:21:00

Open article: https://www.newcannabisventures.com/zenabis-taps-td-for-60-million-debt-facility/