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Tag Archives: Funding

SugarBud Secures $17.65 Million Non-Dilutive Credit Facility With Farm Credit Canada to Fund Cannabis Operations

SugarBud Craft Growers Corp. (trading as Relentless Resources Ltd.) (“SugarBud” or the “Company”) is pleased to announce that it has entered into a commitment letter with Farm Credit Canada (“FCC”) for a credit facility in the amount of $17.65 million (the “Facility”) to fund an aeroponic cannabis cultivation facility at Stavely, Alberta (the “Project”) and is in advanced negotiations with another Canadian financial institution for a revolving working capital credit facility in the amount of $2.0 million (the “Revolver”) and syndication of the Facility.     
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Emblem Corp. Advances Funding for Natura Naturals Production

Based in Leamington, Ontario, Natura operates a 662,000 sq. ft licensed greenhouse that is currently undergoing a phased conversion and retrofit. After the completion of phase 1 in 2018, Natura expects to achieve an annual run-rate of 15,000 kgs. Natura expects to have its first harvest early in Q4. Once completed in 2019, the facility is expected to bring total annualized cannabis production capacity to approximately 70,000 kg per year.
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SugarBud Craft Growers Corp. Provides Update Regarding Management Changes and Additions, Funding of Cannabis Operations, Insider Participation in Rights Offering, Investment in Inner Spirit Holdings Ltd. and Announces Option Grant

SugarBud Craft Growers Corp. (“SugarBud” or the “Company”) is pleased to announce that it has appointed Mr. Craig Kolochuk, SugarBud’s President, to the position of President and Chief Executive Officer, Mr. Sander Steer to the position of Vice President, Growing Operations, Infrastructure and Technology and Mr. Corey Scott to the position of Master Cultivator. SugarBud is also pleased to provide an update regarding its credit facilities and funding of cannabis operations, anticipated insider participation of approximately $1.5 million in its upcoming rights offering (“Rights Offering”) and its investment in Inner Spirit Holdings Ltd. (“ISH”), which has increased substantially in value subsequent to ISH’s successful initial public offering (“IPO”).    
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