Avicanna has entered into a credit facility with Inmobiliaria Bondue for up to $5 million.
Advances made under the facility will bear interest at a rate of 8.0% per annum. The credit facility is unsecured and is repayable upon a default by Avicanna or the demand of Bondue. The facility is intended to be used for general working capital purposes.
Bondue is a party to the credit facility and the execution of the associated loan documentation is considered a “related party transaction” for the purposes of MI 61-101.
Avicanna is an Ontario corporation focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.
