By Devika Patel
Knoxville, Tenn., Jan. 21 – MichiCann Medical Inc., doing business as Red White & Bloom, obtained a $50 million 12% 18-month debt facility through a single investor, according to a press release.
The facility’s tenor may be extended to 30 months.
The proceeds will be used to refinance and/or repay existing debt, for acquisitions and working capital and general corporate purposes.
Red White & Bloom is a cannabis company based in Toronto.
| Issuer: | Red White & Bloom
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| Issue: | Debt facility
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| Amount: | $50 million
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| Maturity: | 18 months, may be extended to 30 months
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| Coupon: | 12%
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| Announcement date: | Jan. 21
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| Distribution: | Private placement
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