Canada’s Sundial inks four-year term debt facility

By Rebecca Melvin

New York, July 8 – Sundial Growers Inc. announced that it has inked a four-year term debt facility with an initial tranche of C$115 million and a second tranche of C$44.6 million to be available upon the fulfillment of certain predefined conditions.

The loans are earmarked to facilitate Sundial's strategic plans including facility construction, debt repayment, accretive acquisitions and general corporate purposes.

“The proceeds, a portion of which has already been used, enable Sundial to continue our ambitious strategic growth plan...,” chief executive officer Torsten Kuenzlen said in a release.

Sundial is a cannabis company based in Alberta.

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