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home / news releases / WDDMF - WeedMD secures $30M credit facility

WDDMF - WeedMD secures $30M credit facility

WeedMD
WeedMD ([[WDDMF]] -0.2%) closes definitive agreement for $30M credit facility with LiUNA Pension Fund of Central and Eastern Canada's affiliate. Interest rate is set to 15%, with the maturity of Aug. 2022.The facility will be used for general working capital purposes, capex and general corporate requirements to accelerate sales of Color Cannabis adult-use products and Starseed’s unique medical service offerings to payor groups and patients.CEO Angelo Tsebelis says this non-dilutive financing will "provide additional working capital to drive sales and generate sustainable profitability as we drive towards closing out our first year as a fully-integrated company alongside Starseed Medicinal."Management to host conference call tomorrow.Previously: WeedMD inks merger with online sales platform for expanding products offering (Sept. 22)

For further details see:

WeedMD secures $30M credit facility
Stock Information
Company Name: WeedMD
Stock Symbol: WDDMF
Market: OTC
Website: weedmd.com
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