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MTL Cannabis ( (TSE:MTLC) ) has shared an update.
MTL Cannabis Corp. has secured a $27 million credit facility from a Canadian Schedule 1 bank to enhance its operational flexibility and growth through capital expenditures. This facility will help refinance approximately $19 million of existing debts and bolster the company’s liquidity by postponing $8 million in shareholder loans. The move is seen as a significant step in strengthening MTL Cannabis’s financial position and completing the business combination with Canada House Cannabis Corp., reflecting the company’s commitment to financial stewardship and growth.
More about MTL Cannabis
MTL Cannabis Corp. is a parent company of several licensed producers, including Montréal Medical Cannabis Inc., Abba Medix Corp., and IsoCanMed Inc. The company operates indoor grow facilities in Québec and Ontario, focusing on craft quality cannabis products such as dried flower, pre-rolls, and hash. MTL Cannabis markets its products under various brands for the Canadian market and has developed export channels for bulk and unbranded GACP quality cannabis.
Average Trading Volume: 26,164
Technical Sentiment Signal: Buy
Current Market Cap: C$59.67M
Learn more about MTLC stock on TipRanks’ Stock Analysis page.