CubicFarm announced that it has completed the closing of a CAD6.4 million secured revolving term loan to support business operations.
The term loan amount increased from CAD6.25 million, as previously announced on September 14, 2022, to CAD6.4 million. The company drew the full amount at closing.
The lender of the term loan also received share purchase warrants in HydroGreen, a wholly-owned subsidiary of the company, to purchase, in aggregate, approximately USD4.8 million of HGI shares at a USD20.0 million pre-money valuation, in accordance with the previous announcement.
For more information:
CubicFarms
1-888-280-9076
[email protected]
www.cubicfarms.com