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Tag Archives: ATB Financial

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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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Invictus Closes $25.5 Million Debt Financing from ATB Financial

Invictus Closes $25.5 Million Debt Financing from ATB Financial
INVICTUS MD STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) is pleased to announce that it has closed the previously disclosed $25.5 million debt financing arrangement (the "Financing") with ATB Financial ("ATB") (see press release dated August 8, 2018, for further details). The Financing will be used to accelerate the construction of its Phase 3 and Phase 4 cannabis cultivation facilities (the "Expansion Plan") at Acreage Pharms Ltd. ("Acreage Pharms"), located in West-Central Alberta. The Expansion Plan will add a total of 180,000 square feet of production capacity to Acreage Pharms. The 90,000 square foot Phase 3 expansion is well underway with over $6 million in progress payments already made for permitting, lot preparation, foundation construction and precast installation. Phase 3 has a target completion date of January 2019 with Phase 4 expected to be completed later in 2019.
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