Entourage Health partially repays BMO loan; remainder assumed by LiUNA

By Marisa Wong

Los Angeles, June 20 – Entourage Health Corp. announced that it partially repaid its senior secured credit facility with Bank of Montreal and that the remaining balance of the credit facility of about $14.6 million has been assumed by its other senior secured lender, an affiliate of the LiUNA Pension Fund of Central and Eastern Canada, allowing for the full repayment of BMO.

The company used net proceeds of the sale of its Strathroy facility and cash to make the repayment.

The company said that by restructuring its senior secured debt, it simplifies its capital structure in line with the strategic decisions made to simplify its business operations.

Entourage is a Toronto-based producer and distributor of cannabis products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.