AI assistant
CANN GROUP LIMITED — Capital/Financing Update 2020
Dec 14, 2020
64603_rns_2020-12-14_73777449-2c1b-47c2-a341-d58f9792f5be.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [585 x 60] intentionally omitted <==
ASX ANNOUNCEMENT
15 December 2020
Cann executes final documentation on $50 million bank debt facility
15 December 2020 - Cann Group Limited (ASX: CAN) announced today that it has executed final documentation on the $50 million debt facility with National Australia Bank (NAB), which was announced on Monday, 23 November 2020.
The loan will be used by Cann Group to complete the first stage of its state-of-the-art medicinal cannabis production site near Mildura. The debt facility is a standard form construction draw-down facility, which converts to an amortisation loan over 8 years.
-
Base interest rate will be the Bank Bill Swap Bid Rate (BBSY)
-
Drawn margin rate will be 3.20% p.a.
-
Facility fee will be 1.80% p.a.
Authorised for release by the Board of Directors, Cann Group Limited.
For further information please contact:
Peter Crock Clive Fanning Matthew Wright CEO Head of Investor Relations NWR Communications Cann Group Limited Cann Group Limited +61 451 896 420 +61 3 9095 7088 +61 3 9095 7088 [email protected] [email protected] [email protected]
About Cann Group
Cann Group Limited (ABN 25 603 949 739) is building a world-class business focused on breeding, cultivating, manufacturing and supplying medicinal cannabis for sale and use within Australia and for approved overseas export markets. The company has established research and cultivation facilities in Melbourne and is developing a state-of-the-art cultivation facility near Mildura, Victoria. Cann Group has executed collaboration agreements that have enabled it to establish a leading position in plant genetics, breeding, extraction, analysis and production techniques required to facilitate the supply of medicinal cannabis for a range of diseases and medical conditions. The Company is commercialising a range of imported and locally sourced and manufactured medicinal cannabis products. Learn more about Cann Group at www.canngrouplimited.com
Cann Group Limited ACN 603 949 739 4 Research Avenue, Bundoora, VIC 3083 Australia Ph: +61 3 9095 7088