AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC”), a commercial real estate finance company that provides loans to operators in the cannabis industry, today announced that it, along with an affiliate, has provided a credit facility of $15.5 million to The Evermore Cannabis Company (“Evermore”), a vertically integrated Maryland operator. The credit facility is designed to provide Evermore with additional capital for the expansion of its cultivation and manufacturing facility in Baltimore, Maryland, and to consolidate and streamline its ownership structure.AFC will hold $10.075 million of the credit facility and $5.425 million was syndicated to an affiliate, which consists of a first-lien term loan. AFC Management, LLC served as Lead Arranger and Administrative Agent for the transaction. Green vision acted as Evermore’s Financial Advisor.
Published Ncv Newswire, New Cannabis Ventures, 07/15/2021 09:09:00