Canadian cannabis cultivation firm the Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF) on Monday announced its receipt of a loan commitment from an ATB Financial (“ATB”) syndicate of lenders as lead arranger and administrative agent for up to $50,000,000 of committed senior secured credit facilities. According to the update, Flowr will be permitted to use a recapitalization term facility and a revolving operating credit facility for general working capital purposes, as well as a development facility for the development of its Kelowna 1 Facility, Kelowna 2 Facility and Flowr Forest. The ATB Credit Facilities will have a maturity day of three years, provide for an accordion of up to $50,000,000 and, under the terms, Flowr will be subject to certain financial, positive and negative covenants. The applicable margins are based on certain performance-pricing grids, ranging from 250 bps to 325 bps for bank acceptances and letters of credit, 125 bps to 200 bps for prime loans, and certain standby fees.
To view the full press release, visit http://ibn.fm/uCyoW
About the Flowr Corporation
Flowr, through its subsidiaries, holds a cannabis production and sales license granted by Health Canada. With a head office in Toronto and a production facility in Kelowna, British Columbia, Flowr builds and operates large-scale, GMP-designed cultivation facilities utilizing its own growing systems. Flowr’s investment in research and development along with its sense of craftsmanship and spirit of innovation is expected to enable the company to provide premium-quality cannabis that appeals to the adult-use recreational market and addresses specific patient needs in the medicinal market. For more information, visit the company’s website at www.Flowr.ca.
NOTE TO INVESTORS: The latest news and updates relating to FLWPF are available in the company’s newsroom at http://ibn.fm/FLWPF
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.qualitystocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php
