Auxly Cannabis Group Strategically Extends Credit Facility Maturity

12w
2m read
Summary

A significant player in this evolving landscape, Auxly Cannabis Group, has signed an agreement to amend the credit facility for its subsidiary, Auxly Leamington, alongside a group of lenders. This option is contingent upon Auxly Leamington making a principal repayment of CAD 2.5 million by the end of 2025. Nonetheless, Auxly has announced that the lenders have provisionally extended the credit facility’s maturity date to January 31, 2024.The Revised Terms: Maturity Date Extension and Optional Additional YearThe heart of this negotiation is the extension of the credit facility’s maturity date. As part of ongoing negotiations, the Canadian cannabis producer aims to finalize a definitive amendment agreement. They reflect a broader trend in the cannabis industry towards financial stability and long-term planning.

Article Preview

A significant player in this evolving landscape, Auxly Cannabis Group, has signed an agreement to amend the credit facility for its subsidiary, Auxly Leamington, alongside a group of lenders. As part of ongoing negotiations, the Canadian cannabis producer aims to finalize a definitive amendment agreement. However, there is currently no certainty that such an agreement will be reached. Nonetheless, Auxly has announced that the lenders have provisionally extended the credit facility’s maturity date to January 31, 2024.

The Revised Terms: Maturity Date Extension and Optional Additional Year

The heart of this negotiation is the...

Read the full article @ Marijuana Index