urban-gro closed a credit facility in the aggregate principal amount of $6 million.
According to a related 8-K filing, Bridging Finance served as administrative agent for the facility.
“The closing of this financing and the receipt of funds allows us to remain laser focused on profitability and in delivering our best-in-class engineering design, services, and complex systems to our customers,” said Bradley Nattrass, CEO and Chairman of urban-gro. “We are pleased to be in such a strong position to continue serving the increasing demand we are seeing across North America and Europe.”
The credit agreement, which remains subject to certain closing customary conditions, is comprised of a 12-month senior secured demand term loan facility in the amount of C$2.7 million ($2.02 million), which is to be funded in its entirety on the closing date and (ii) a 12-month demand revolving credit facility of up to C$5.4 million ($4.03 million), which may be drawn from time to time, subject to the terms and conditions set forth in the credit agreement.
INFOR Financial acted as the exclusive financial advisor to the Company in connection with this financing.
_x000D_
urban-gro is an engineering design services company that integrates complex equipment systems into high performance indoor cannabis cultivation facilities around the world.
