Toronto, March 30, 2022 (GLOBE NEWSWIRE) — Entourage Health Corp. (Formerly WeedMD Inc.) (TSX-V: ENTG) (OTCQX: ETRGF) (FSE: 4WE) (“Entourage” or “society), Canadian producers and distributors of award-winning cannabis products have confirmed today that they have signed an additional amendment (“Fix”) Senior collateralized credit line signed on March 29, 2019 (“Credit facility“). This amendment changes the conditions under which Entourage will secure up to $ 39 million in debt loans over the three years to 2022.
Under the terms of the amendment, the Company will extend the line of credit maturity from March 28, 2022 to May 31, 2022 and certain financial covenants until May 31, 2022, subject to certain conditions. Secured to postpone. .. A copy of the amendment will be available on our SEDAR page.
About Entourage Health Corp.
Entourage Health Corp. is a publicly traded parent company of Entourage Brands Corp. (formerly WeedMD RX Inc.) and CannTx Life Sciences Inc., licensed to manufacture and sell cannabis products for both the medical and adult markets. The owner. We own and operate 158 acres of state-of-the-art greenhouses and treatment facilities in ON’s Strathroy. A fully licensed 26,000 square foot Aylmer, ON processing facility specializing in cannabis extraction. Center of Excellence in Micropropagation, Tissue Culture and Genetics in Guelph, Ontario. With the addition of the healthcare-centric brand Starseed Medical, Entourage has expanded its multi-channel distribution strategy. The industry’s first exclusive partnership between Starseed and Canada’s largest construction union, LiUNA, will complement Entourage’s direct sales to medical patients with employers and union groups. Entourage’s elite adult product portfolio includes Color Cannabis, Saturday Cannabis and Royal City Cannabis Co. These are sold by eight local distributors. We also maintain a strategic relationship in the elderly market and have a supply contract with Shoppers Drug Mart. It is the exclusive Canadian producer and distributor of the award-winning US-based wellness brand Mary’s Medicals, sold in both medical and adult channels. Entourage is also the exclusive distributor of cannabis-injected beverages in Canada in collaboration with a subsidiary of the Boston Beer Company and will be launched in 2022.
For more information, please visit www.entouragehealthcorp.com.
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For more information, please contact:
For investor inquiries:
Valter Pinto or Scott Eckstein
KCSA Strategic Communication
For media inquiries:
Maria Nella de la Valera
SVP, Communication & Corporate Affairs
Information about future prospects This press release contains “forward-looking information” in the sense of applicable Canadian securities law, based on Entourage’s current internal expectations, estimates, forecasts, assumptions, beliefs, and views on future events. I am. Information about the future outlook is “expect”, “likely”, “may”, “do”, “should”, “intend”, “expect”, “potential”. Other similar words, including “is”, “suggested”, “estimated”, and their negative and grammatical variations, or certain events or conditions “may occur”, “occur” A statement that “does” or “occurs”, or is a discussion of strategy.
Information about the future outlook for this news release is based on expectations, estimates, forecasts, assumptions, and views of future events that management believes are reasonable in that situation. Information about future prospects includes estimates, plans, expectations, opinions, forecasts, forecasts, goals, guidance, or other statements that are not factual statements. Forward-looking information necessarily includes known and unknown risks, including, but not limited to, risks associated with general economic conditions. Industry adverse events; market loss; future legislative and regulatory developments. Inability to access sufficient capital from internal and external sources and / or in favorable conditions. The Canadian cannabis industry is generally; Entourage’s ability to execute business strategies. COVID-19 Pandemic; Competition; Poor crops; and other risks.
Forward-looking information is provided only as of the date it was created, and unless required by law, Entourage may or may not be the result of new information. We undertake no obligation to update or revise any information about. Event or other. New factors emerge from time to time, and it is impossible for Entourage to predict all such factors. When reviewing this forward-looking information, readers should be aware of the risk factors and other caveats of the Entourage disclosure document filed with SEDAR’s applicable Canadian securities regulators. www.sedar.com.. Due to the risk factors and other factors described in the disclosure material, actual events and results may differ materially from those described in the forward-looking information.
Neither the TSX Venture Exchange nor its regulatory service providers (because the term is defined in the TSX Venture Exchange policy) are responsible for the validity or accuracy of this release.
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Entourage Health extends senior secured credit facility maturity, Canadian Business Journal
Source link Entourage Health extends senior secured credit facility maturity, Canadian Business Journal