Aleafia Health Inc. (ALEAF)

[FUNMAN]

Aleafia Health Inc (OTCMKTS: ALEAF) Obtains a $19 Million Credit Facility and Extension of Existing Credit Facility

This must be tied to the removal and replacement of the CEO who led Aleafia down the "Rabbit Hole". - FUNMAN

Published 9 hours ago on February 8, 2022
By Brandon Manns

https://factsaboutcbd.org/aleafia-health-inc-otcmkts-aleaf-obtains-a-19-million-credit-facility-and-extension-of-existing-credit-facility-5803

Aleafia Health Inc (OTCMKTS: ALEAF) recently announced its intention to close a credit facility estimated to be $ 19 million. Geoffrey Benic, the company’s CEO, stated that the company’s liquidity is improved by the financing obtained from the facility.

He further added that the deal helps the company grow the adult consumption of cannabis products and that the debt is expected to mature in December 2023. the company anticipates achieving sufficient growth following the last quarter’s release.

Following the agreement by the company and the facility, the receivables were drafted in January 2022. As a result, the company’s revenue rise with the value of the receivables, and the loan’s interest rate is remitted at the end of each month.

Details of the loan
The loans can be secured with various assets such as lien mortgages and others. For example, Aleafia Health care recently put up mortgages on its facilities in Paris, Ontario, etc. The proceeds from the loan will be utilized in funding capital and the repayment of a loan announced by the company in August.

The loan announced is worth $5 million and that it is to be remitted along with interests and expenditure fees.

Financed by the Garrington group of companies, the facility issues loans to various companies across North America. With its headquarters based in Toronto, Canada, Garrington funds the facility, which offers loans to small or medium-sized companies.

The credit facility issues a minimum of $30 million loans and comprises receivables worth $12 million. With the credit’s maturity date set to be the 23rd day of December 2023, the company prepares the loan when closing.

Aleafia Health production facilities
The company possesses at least three licensed facilities that develop and cultivate, Cannabis products. Its facility is located in Ontario Province and possesses an extensive and impressive portfolio for the growth of cannabis products.

Aleafia produced various CBD products, including medical use, capsules, oils, etc. The company is based in Canada, but its products are distributed to various international markets across the globe.

Being licensed to distribute cannabis products in Canada, the company provides products filled in the country’s wellness and health products. Aleafia has cemented its international position by acquiring subsidiaries in various cities such as Australia, among others.