Acreage Announces Initial Close of Previously Announced Credit Facility and Loan Transaction

NEW YORK, March 17, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ), one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., today announced (i) the first closing and drawdown of $21 million on the previously announced $100 million credit facility (the “Credit Facility”), with net proceeds of approximately $20.2 (excluding placement fees) to Acreage, and (ii) the borrowing of $22 million (the “Borrowed Amount”) by an Acreage subsidiary (“IP Borrower”) from IP Investment Company, LLC (the “Lender”) in a transaction that represents the initial borrowing under the previously announced loan transaction (the “Loan Transaction”).  All dollar amounts referred to herein are in U.S. dollars.
ADDITIONAL TRANSACTION DETAILS
Bay Street News

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