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Village Farms International Announces Completion of the Accordion Provision of the Pure Sunfarms' Credit Facility

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Submitted by Elsewhere on 2020-Jul-01 Wed 10:46
2020-Jul-01 Wed 10:46

VANCOUVER, BC , July 1, 2020 /CNW/ - Village Farms International, Inc. ("Village Farms" or the "Company") (VFF) (VFF) today announced its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has further expanded its credit facility (the "Credit Facility") with the lending syndicate led by Bank of Montreal and including Farm Credit Canada ("FCC") and the addition of CIBC to its full $59 million capacity with the completion of the Credit Facility's accordion feature. The Credit Facility now consists of a $15.0 million revolving operating loan (the "Revolver") and a $25.0 million term loan (the "New Term Loan"), in addition to its existing $19.0 million loan (the "Existing Loan").