Asset Scramble: Body & Mind Secures $2.3M To Drive Cannabis Growth In Illinois And New Jersey
Portfolio Pulse from Nicolás Jose Rodriguez
Body and Mind Inc. has secured a $2.3 million credit facility from Bengal Catalyst Fund to support its expansion in Illinois and New Jersey. The financing will aid in developing dispensary projects and optimizing the company's asset base. The credit facility carries an 18% interest rate and is secured alongside amended convertible debentures.
October 27, 2024 | 12:22 pm
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Body and Mind Inc. has secured a $2.3 million credit facility to expand its cannabis operations in Illinois and New Jersey. This move is expected to enhance its asset base and shareholder value.
The secured credit facility provides Body and Mind with the necessary capital to expand its operations in key markets, which is likely to positively impact its stock price. The focus on asset optimization and shareholder value further supports a positive outlook.
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