Brief: StenoCare Enters Into Contract With Havecon

StenoCare A/S

16/07/2019 09:24

July 16 (Reuters) - StenoCare A/S  STENO.TE :
    * STENOCARE TO ESTABLISH THE WORLD'S FIRST HYBRID, IN-DOOR
CULTIVATION FACILITY FOR PRODUCTION OF PREMIUM MEDICAL CANNABIS
AT SCALE
    * CONTRACT TO ESTABLISH A LARGE SCALE, STATE-OF--ART MEDICAL
CANNABIS CULTIVATION FACILITY IN DENMARK.
    * SECURED 15MDKK IN DEBT FINANCING WHICH IN COMBINATION WITH
CASH
AT HAND WILL FINANCE CONTRACT.
    * ENTERED INTO A TURNKEY CONSTRUCTION CONTRACT WITH HAVECON
    * COMMERCIAL TERMS AND TECHNICAL SPECIFICATIONS REMAIN
UNDISCLOSED
FOR COMPETITIVE REASONS
    * PARTIES ANNOUNCE THAT CONSTRUCTION WILL COMMENCE SHORTLY
    * FACILITY IS EXPECTED TO BE READY FOR CULTIVATION IN
Q1-2020
    * 15MDKK UNSECURED DEBT FACILITY WITH 1,5% IN MONTHLY
INTEREST
    * LOAN IS PROVIDED BY A CONSORTIUM OF NOT CLOSELY RELATED
PRIVATE
INDIVIDUALS
    * LOAN CAN BE REPAID OR CONVERTED

Source text for Eikon:  ID:nWkr7McnvN 
Further company coverage:  STENO.TE 

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