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Westleaf Cannabis Inc. secures up to $24 million of debt financing from ATB Financial

Westleaf Cannabis Inc. secures up to $24 million of debt financing from ATB Financial
Sept. 17, 2018 /CNW/ - Westleaf Cannabis Inc. ("Westleaf" or the "Company") is pleased to announce that it has signed a commitment letter for a development loan of up to $24 million (the "Financing") with ATB Financial ("ATB"). The loan is being allocated in two installments, with the first $12.75 million of funding accounting for phase one of the company's 115,000 square foot cannabis cultivation facility located near Battleford (the "Battleford Facility"). The first installment of the development loan is accompanied by the second installment, which includes an additional $11.25 million related to Phase II expansion of the Battleford Facility, conditional on receipt of a production license. The Battleford Facility build-out is underway with construction having commenced earlier this year.
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