00:15:53 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Cannabis Wheaton Income Corp
Symbol CBW
Shares Issued 382,349,238
Close 2018-03-01 C$ 1.60
Market Cap C$ 611,758,781
Recent Sedar Documents

Cannabis Wheaton gives Sundial Growers $7-million note

2018-03-01 09:24 ET - News Release

Mr. Chuck Rifici reports

CANNABIS WHEATON INCOME CORP. AND SUNDIAL SIGN DEFINITIVE AGREEMENT FOR $7,000,000 IN DEBT FINANCING

Cannabis Wheaton Income Corp. has entered into a definitive agreement whereby the company has provided Sundial Growers Inc., an Alberta-based licensed producer, with $7-million in non-dilutive debt financing by way of an instrument evidencing a debt obligation repayable by either the payment of a buyback amount or the delivery of cannabis product. The proceeds of the note will be used by Sundial to add to its current financing for the construction of a new 545,000-square-foot state-of-the-art cultivation facility to be located in the town of Olds, Alta.

Under the terms of the note, the company advanced $7-million to Sundial for a period of six months. Sundial will repay the note either by a cash payment, through the delivery of an agreed-upon volume of dried cannabis produced by Sundial, or through a combination of cash and dried cannabis. If the note is not repaid in full on or prior to the maturity date, Sundial will have the option to extend the maturity date by a further six months upon paying the company a penalty amount.

Hugo Alves, president of Cannabis Wheaton, stated: "We are excited to participate with Ted and the whole Sundial team through this debt financing. We look forward to working with Sundial as they continue to execute on their go-to-market strategy and expand their cultivation footprint across the province and the country."

About Cannabis Wheaton Income Corp.

Cannabis Wheaton is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. The company's mandate is to facilitate growth for its partners by providing them with financial support and sharing its collective industry experience. Cannabis Wheaton partners all have different visions, voices and brand values, and all share a common goal -- to build a world-class industry based on ethics, diversity, quality and innovation.

We seek Safe Harbor.

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