Green Organic Dutchman uses facility sale to repay senior term debt

By William Gullotti

Buffalo, N.Y., June 23 – Green Organic Dutchman Holdings Ltd. announced their wholly owned Quebec subsidiary Medican Organic Inc. completed the $27 million sale of a facility to Cannara Biotech (OPS) Inc., according to a press release Wednesday.

The sale, along with a $5.7 million deposit refund from Hydro-Quebec, was used to repay approximately $31.8 million to settle the entirety of its senior term debt with its lender. The credit facility has been terminated.

BMO Capital Markets acted as exclusive representative and financial adviser to the company for the transactions.

The Toronto-based company is a producer of certified organic cannabis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.