Cannara Biotech ( (TSE:LOVE) ) has provided an update.
Cannara Biotech Inc. has announced the extension and amendments to its credit agreement with the Bank of Montreal and its convertible debenture with Olymbec Investments Inc. These financial adjustments are aimed at optimizing Cannara’s financial position and supporting its long-term strategic goals. The Restated Credit Facility includes a term extension to December 31, 2027, a streamlined debt structure with a $34.8 million term loan, a $10 million revolving credit facility, and a $5.6 million letter of credit. These changes provide Cannara with the financial flexibility and liquidity necessary to continue its growth and strategic execution.
More about Cannara Biotech
Cannara Biotech Inc. is a vertically integrated producer of premium-grade cannabis and derivative products, offering them at affordable prices. The company operates two mega facilities in Québec, covering over 1,650,000 square feet.
YTD Price Performance: 69.76%
Average Trading Volume: 14,275
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $82.37M
For detailed information about LOVE stock, go to TipRanks’ Stock Analysis page.