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home / news releases / CTST - CannTrust secures C$22.5M commitment for DIP and CCAA Exit Credit facility financing

CTST - CannTrust secures C$22.5M commitment for DIP and CCAA Exit Credit facility financing

CannTrust Holdings Inc.
CannTrust (CTST) secured a commitment for a debtor-in-possession ((DIP)) and CCAA Exit Credit Facility from Cortland Credit Lending subject to approvals scheduled for Apr.20.The facility consists of a revolving loan, under which repayments and additional drawdowns will be permitted from time to time, provided that the amounts owing under the facility shall not exceed the borrowing limit of C$22.5M.The facility will have a 12 months terms and maybe extended for additional 12 months on mutual agreement.Funds advanced under the facility will be used to fund CannTrust's working capital needs and support the restoration of its operations.

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CannTrust secures C$22.5M commitment for DIP and CCAA Exit Credit facility financing
Stock Information
Company Name: CannTrust Holdings Inc.
Stock Symbol: CTST
Market: NYSE
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