Supreme Cannabis has entered into a credit agreement with Bank of Montreal as lead arranger and agent for $90 million in senior secured credit facilities consisting of a term loan of $70 million and a revolving credit facility of $20 million.
BMO acted as administrative agent on an amended credit agreement for Jamieson Wellness. The amended facilities now include a provided availability of up to C$475 million ($358.3 million).
Canada’s Aurora Cannabis is increasing the size of a secured credit facility to C$360 million ($280 million) from C$200 million ($150 million).
Sunens Farms, a subsidiary of Auxly Cannabis, entered into a term sheet for a syndicated credit facility, with the Bank of Montreal as lead underwriter.
Comstock Resources closed the acquisition of Covey Park Energy in a cash and stock merger valued at approximately $2.2 billion. Bank of Montreal served as administrative agent for a $2.5 billion revolver to support the transaction.
Pinnacle Renewable has expanded its credit facility to $530 million with a syndicate of lenders led by the Bank of Nova Scotia, Bank of Montreal, Royal Canadian Bank and CIBC.
Cannabis producer Organigram closed a credit facility with Bank of Montreal as lead arranger and agent for a syndicate including three other lenders. The facility consists of a $115 million term loan and a $25 million revolving credit facility.
WeedMD, a federally-licensed producer and distributor of medical-grade cannabis, entered into a credit facility of up to $39 million of secured debt financing with Bank of Montreal.
Bank of Montreal agreed to extend AgroFresh Solutions’ $12.5 million revolving credit facility from July 31, 2019 to Dec 31, 2020. The extension will enhance the company’s liquidity and financial flexibility.