TRUL - Marijuana Giant Trulieve Boosts Cash Position With $25M Loan Opens Cannabis Stores In Florida | Benzinga
Medical cannabis giant Trulieve Cannabis Corp. (CSE:TRUL) (OTCQX:TCNNF) has closed its commercial loan secured by a cultivation site in Florida for aggregate gross proceeds of $25 million, which it plans to use for general corporate purposes.
Trulieve reported on Wednesday that it agreed to pay interest at a fixed rate of 8.31% for the duration of the five-year loan.
Lenders were comprised of two banks, with First Federal Bank serving as lead agent.
CEO Kim Rivers praised the move.
“We are pleased to announce this non-dilutive financing, particularly given the current macroeconomic backdrop,” Rivers said. “This loan provides Trulieve greater flexibility and bolsters our cash position as we focus on preparing for growth catalysts.”
Trulieve simultaneously announced the opening of two new ...