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CannabisNewsBreaks – The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF) Receives Loan Commitment for $50M Senior Secured Credit Facilities

Company: The Flowr Corporation (FLWPF)
Category: News

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://cnw.fm/0cMpG

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://cnw.fm/FLWPF

About CannabisNewsWire

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