By Devika Patel
Knoxville, Tenn., July 2 – CannaRoyalty Corp., doing business as Origin House, arranged a C$12 million 10% debt financing with Opaskwayak Cree Nation, according to a press release.
The financing replaces the company’s previously announced C$12 million debt facility with a subsidiary of Sprott Inc., which has now been terminated.
The loan matures on Dec. 31, 2019.
Proceeds will be used for the construction and expansion of premium craft cannabis production facilities and for general corporate purposes.
CannaRoyalty is an Ottawa-based investor and operator in the legal cannabis sector. Ottawa-based Origin House is a growing cannabis brands and distribution company operating across key markets in the United States and Canada.
| Issuer: | Origin House
|
| Issue: | Debt financing
|
| Amount: | C$12 million
|
| Maturity: | Dec. 31, 2019
|
| Coupon: | 10%
|
| Investor: | Opaskwayak Cree Nation
|
| Announcement date: | July 2
|
| Distribution: | Private placement
|
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