Entourage Health upsizes LiUNA credit facility by $30 million

By Marisa Wong

Los Angeles, Oct. 31 – Entourage Health Corp. announced it amended and upsized its existing credit facility with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada, providing an additional $30 million of funding availability.

The $30 million will be made available to Entourage in two equal tranches of $15 million each: the first tranche on Oct. 31, and the second on Jan. 31.

The credit facility will be used for general working capital purposes.

The credit facility continues to bear interest at 15.25% with the option to capitalize interest in lieu of cash payments of interest. The facility is set to mature on Dec. 31, 2024.

The credit facility is secured by the assets of the company and its subsidiaries, including the company’s production facilities.

LiUNA Pension Fund’s security under the credit facility is in second position to the company’s senior creditor.

Entourage also confirmed it executed an updated amended and restated credit facility agreement with its senior lender, Bank of Montreal.

The amended and restated credit agreement reflects all prior amendments made, including the previously announced extension of the maturity date to June 30, 2024, and the new additional funding availability under the LiUNA Pension Fund credit facility.

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

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