TORONTO, Sept. 21, 2020 /CNW/ – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company“) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announces that it has entered into an agreement (the “Credit Facility Amendment”) with its lenders to amend the three-year term credit facility initially announced on November 14, 2019 (the “Credit Facility”).
March 31, 2022. New covenants regarding minimum liquidity and EBITDA will be tested in the interim. In addition, the Company has agreed to a 75 basis point increase in the applicable interest rate margin on the Credit Facility to reflect current industry dynamics.
$57.2 million and a revolving credit facility limit of $7.0 million.
Beena Goldenberg, President and CEO of Supreme Cannabis. “It also demonstrates that our lenders continue to have confidence in the Supreme Cannabis business case.”
www.sedar.com.” data-reactid=”32″>The disclosure in this news release relating to the Credit Facility and the Credit Facility Agreement is qualified in its entirety by the full text of such documents, copies of which are or will be filed on www.sedar.com.
The Supreme Cannabis Company, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world’s most premium producers of recreational, wholesale and medical cannabis products.” data-reactid=”34″>The Supreme Cannabis Company, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world’s most premium producers of recreational, wholesale and medical cannabis products.
7ACRES, Blissco, 7ACRES Craft Collective, Sugarleaf and Hiway. Supreme Cannabis addresses national and international medical cannabis opportunities through its premium Truverra brand.” data-reactid=”35″>Supreme Cannabis’ portfolio of brands caters to diverse consumer and patient experiences, with brands and products that address recreational, wellness, medical and new consumer preferences. The Company’s recreational brand portfolio includes, 7ACRES, Blissco, 7ACRES Craft Collective, Sugarleaf and Hiway. Supreme Cannabis addresses national and international medical cannabis opportunities through its premium Truverra brand.
operating assets that serve key functions in the value chain, including, scaled cultivation, value-add processing, automated packaging and product testing and R&D. Follow the Company on Instagram, Twitter, Facebook, LinkedIn and YouTube.” data-reactid=”36″>Supreme Cannabis’ brands are backed by a focused suite of world-class operating assets that serve key functions in the value chain, including, scaled cultivation, value-add processing, automated packaging and product testing and R&D. Follow the Company on Instagram, Twitter, Facebook, LinkedIn and YouTube.
Canada. There can be no assurance that such estimates and assumptions will prove to be correct.
www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.” data-reactid=”43″>Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking information as discussed in the “Risk Factors” section of the Company’s Annual Information Form dated September 17, 2019 (“AIF”). A copy of the AIF and the Company’s other publicly filed documents can be accessed under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
We simply grow better.
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SOURCE The Supreme Cannabis Company, Inc.
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