Sundial Growers Inc. announced that it has entered into a syndicated credit agreement with ATB Financial ("ATB") and Bank of Montreal ("BMO") as co-lead arrangers and joint book
Upon closing of the Credit Agreement, approximately C$48 million of the Credit Facility was drawn to refinance amounts owing under the Company's prior debt facility with ATB. The term of the Credit Facility is two years. The Credit Facility is secured by all of Sundial's Canadian assets, including its production facilities comprised of the flagship production facility located in Olds, Alberta, the Rocky View, Alberta facility and the purpose-built facility currently being constructed in Merritt, British Columbia.
"With the completion of the Credit Facility, including the C$50 million accordion feature, and the proceeds from our recent IPO, we are
"The ongoing commitment made by our partners, both of which are leading financial institutions in Canada, demonstrates continued confidence in Sundial's business and the anticipated cash flow generating ability of our Sundial platform", added Mr. Kuenzlen.
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