Cansortium Inc. Completes New Senior Secured Credit Agreement Ahead of Planned Business Combination Closing with RIV Capital
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Cansortium Inc. has secured a new senior credit agreement worth up to $96.5 million with Chicago Atlantic, ahead of its planned business combination with RIV Capital. The agreement has a 12% cash interest rate and 1% PIK interest, maturing in 2028.
November 26, 2024 | 9:45 pm
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Cansortium Inc. has secured a $96.5 million credit agreement, which strengthens its financial position ahead of a planned merger with RIV Capital. This could enhance its operational capabilities and market presence.
The new credit agreement provides Cansortium with significant financial resources, which is crucial for its upcoming merger with RIV Capital. This financial backing is likely to improve investor confidence and support the company's growth strategy.
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