Verano Holdings (CSE: VRNO) appears to again need further funding. After upsizing a credit facility back in October 2021 to US$250 million, that facility has again been expanded.
The outstanding credit facility has been expanded by a further US$100 million, as reported by the company last night, bringing the total credit facility to US$350 million. The additional funds are said to be non-dilutive, with interest being placed at 8.5%, much like the previous US$120 million upsizing to the facility.
The additional capital is said to be earmarked for “investments that deliver increased value for [the] business and shareholders.”
The announcement follows the news yesterday that the company will be acquiring Goodness Growth Holdings (CSE: GDNS) in an all-stock transaction, pegged at US$413.0 million.
Verano Holdings last traded at $14.19 on the CSE.
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