Harvest One Enters 60 Day Secured Loan Agreement

Harvest One Cannabis (TSXV: HVT) has secured a secured short term loan to keep its operations running. The funds come from the company’s largest shareholder, MMJ Group Holdings, whom currently holds approximately 25% of the company. The funding is intended to be a short term solution while the company searches for longer term financing options.

Harvest One's logo

The funds lent to Harvest One total out at $2.0 million, which was made available to the company today. The short term loan is for a period of 60 days, and carries an interest rate of 15% per annum, payable in arrears. Under the terms of the loan agreement, a security interest will also be issued on all current after after acquired property of the company.

Funding from MMJ Group will be used for general corporate purposes which is said to include the development and roll out of Harvest One’s second generation cannabis products.

Harvest One Cannabis last traded at $0.16 on the TSX Venture.


Information for this analysis was found via Sedar and Harvest One Cannabis Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Harvest One Reviewing Alternatives For Its Operation

Harvest One Cannabis (TSXV: HVT) has commenced a strategic review of alternatives for its entire...

Wednesday, February 12, 2020, 08:26:05 AM

Harvest One Cannabis Inc: A Global Player in the Making

Harvest One Cannabis Inc (TSXV: HVST) is a fan favorite as of late. Discussions related...

Sunday, January 14, 2018, 09:00:56 AM

Numerous Canadian Licensed Producers See Additional Licenses Granted

A number of Canadian licensed producers announced Health Canada approvals for expanded facilities this morning,...

Monday, October 7, 2019, 09:54:10 AM

Harvest One Receives Approval to Import Satipharm CBD Capsules

Harvest One Cannabis (TSXV: HVT) announced this morning that it has received approval from Health...

Wednesday, November 6, 2019, 09:00:10 AM

Harvest One Closes On Sale Of Duncan Facility For $8.2 Million

Harvest One Cannabis (TSXV: HVT) has continued with its strategic review of its operating assets,...

Wednesday, August 26, 2020, 08:47:02 AM