AFC Gamma, Inc. today announced it has provided a credit facility of $23 million to BeLeaf Medical, LLC, a single-state Missouri operator. The credit facility is designed to provide BeLeaf with the capital necessary to expand its three Missouri cultivation facilities in Lakefront, Jonesburg, and Cherokee, as well as purchase the Jonesburg cultivation facility. The Company has nearly completed construction on ~25,000 square feet of the canopy between its locations and plans to add an additional ~16,000 square feet. AFC will hold the entire $23 million credit facility, which consists of a first-lien term loan. The loan will be secured by a first-lien mortgage on BeLeaf’s Jonesburg facility, once purchased, and other commercial-security interests. AFC Management, LLC served as Lead Arranger and Administrative Agent for the transaction.
Published Ncv Newswire, New Cannabis Ventures, 08/31/2021 09:08:00