Cannara reduces cost of debt with lower interest rate, partial debenture payment

The Company announced it has made a $1M repayment against the outstanding convertible debenture originally issued on June 21, 2021, as amended on August 31, 2023, January 30, 2024, and February 21, 2025, to Olymbec. This repayment aligns with Cannara’s disciplined approach to capital management and reflects its commitment to reducing leverage while maintaining financial flexibility. The Company also announced a total reduction of 50 basis points in the interest rate spread on its BMO Credit Facility. This reduction was achieved in two stages: an initial 25 basis point decrease secured through an amendment to the credit agreement, followed by an additional 25 basis point reduction triggered by the Company’s successful achievement of certain covenant thresholds as of Q2 2025. As a result, Cannara’s overall cost of debt is now below 6%, underscoring its strong financial performance and disciplined approach to capital structure management.