Acreage Holdings climbs on securing $150 mln credit facility

Advanced Flower Capital

17/12/2021 17:15

** Shares of U.S. cannabis firm  ACRGau.CD  up 7% at $1.70
    ** Co secures $150 mln credit facility from cannabis REIT
AFC Gamma Inc  AFCG.O  and Viridescent Realty Trust  urn:newsml:reuters.com:*:nL4N2SO3JV
    ** Under the terms, $100 mln will be available for immediate
use and a further $50 mln subject to certain milestones 
    ** AFCG has committed $60 mln under the senior secured
credit facility, an additional $10 mln from an affiliate and the
remaining $30 mln is committed by Viridescent
    ** Acreage intends to use the proceeds of the facility to
fund expansion initiatives, repay existing debt and provide
additional working capital
    ** Acreage shares down 46% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))