Verano Sources Additional US$100 Million Under Credit Facility
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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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
