Asset Scramble: Body & Mind Secures $2.3M To Drive Cannabis Growth In Illinois And New Jersey
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 27 2024
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Source: Benzinga
Credit Facility Announcement: Body and Mind Inc. has secured a credit facility of up to $2.3 million from Bengal Catalyst Fund to support its expansion in Illinois and New Jersey, while optimizing its asset base and enhancing shareholder value.
Financial Terms and Support: The credit facility carries an 18% interest rate and is backed by amended convertible debentures, with the company's independent board supporting the transaction as crucial for its financial stability and growth in the competitive U.S. cannabis market.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
