Cannabis Professional’s daily roundup of industry news. View archive here.
Aphria announces $80M credit facility for Diamond facility
Aphria Inc. said Monday that its subsidiary Aphria Diamond has secured a credit facility with a major Canadian chartered bank as sole arranger, sole book runner and administrative agent on behalf of a group of lenders for a committed senior secured credit facility of $80-million. The Credit Facility is secured by Aphria Diamond’s assets and Aphria’s balance sheet. Leamington, Ont.-based Aphria said pricing is expected to be at the outset in the low-to-high 5 per-cent per annum range. The credit fhas a three-year term and contains customary financial and restrictive covenants, the company says.
Aleafia completes $7.1-million sale agreement
Aleafia Health Inc. said Monday it reached a purchase agreement last week with a Canadian licensed producer under which Aleafia Health will sell 2,840 kg of dried cannabis flower at a price of 2.50 a gram, generating $7.1-million in revenue. The transaction will include up to three shipments, all of which will be completed before Jan. 31, 2020, the company says. The dried flower was cultivated at Aleafia Health’s Port Perry outdoor-grow facility, which yielded 10,300 kg in 2019. The yield figure is limited to dried flower only, and excludes stems or other parts of the cannabis plant.
Fire & Flower receives two new retail licenses in Alberta
Fire & Flower Inc. said Monday it has received two additional cannabis retail store licences in Alberta from the Alberta Gaming Liquor and Cannabis Commission (AGLC). Fire & Flower now owns or has an interest in 38 cannabis retail store licences across the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory. The company said it expects the new locations to be open a during the week of Dec. 16, 2019. The new stores will be located at the following addresses: 6802 - 50 Avenue, Red Deer; and 40 Hewlett Park Landing, Sylvan Lake.
Aurora oil approved for Irish medical cannabis program
Aurora Cannabis Inc. said Monday that one of the company’s oil products has been approved for use under Ireland’s new Medical Cannabis Access Programme (MCAP). Aurora’s high CBD oil drops received approval from the Irish authorities and have now been added to a regulatory schedule that will enable the importation, prescribing and supply under the scheme and is, to date, one of only two products to gain such authorization. The Medical Cannabis Access Programme was signed into law in June, 2019, is scheduled to run for five years.