Nova Cannabis increases credit facility to C$15 million with Sundial

Chicago, June 16 – Nova Cannabis Stores LP announced an increase in its uncommitted revolving credit facility with Sundial Growers Inc. in a press release on Thursday.

The revolver is now C$15 million, from C$10 million. Nova has drawn C$7.5 million on the facility as of Thursday.

The company also filed a preliminary short-form base shelf prospectus for up to C$35 million of common shares, subscription receipts, warrants, debt securities, units or any combination thereof.

"The additional access to capital provides Nova with the opportunity to continue to execute its disruptive and market leading strategy in the Canadian cannabis retail industry," said Marcie Kiziak, chief executive officer of Nova.

Nova Cannabis is an Edmonton, Alta.-based cannabis retailer.

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