Curaleaf Secures New $40 Million Revolving Credit Facility
Curaleaf Holdings has secured a new $40 million revolving credit facility with a major commercial regional bank. The two-year secured facility, maturing on December 15, 2026, carries an interest rate of 7.99% on outstanding principal. The credit line will support general corporate purposes and working capital needs. CEO Boris Jordan emphasized this as a milestone achievement, providing flexibility uncommon in the cannabis sector during a challenging capital-raising environment. The facility aligns with the company's focus on cost-savings measures and profitable growth initiatives.
Curaleaf Holdings ha ottenuto una nuova linea di credito revolving da 40 milioni di dollari con una grande banca commerciale regionale. Questa linea di credito garantita di due anni, che scade il 15 dicembre 2026, ha un tasso d'interesse del 7,99% sul capitale in essere. La linea di credito supporterà scopi aziendali generali e necessità di capitale circolante. Il CEO Boris Jordan ha sottolineato questo come un traguardo importante, offrendo una flessibilità rara nel settore della cannabis in un contesto difficile per la raccolta di capitali. La linea di credito è allineata con l'obiettivo dell'azienda di implementare misure di risparmio dei costi e iniziative di crescita redditizia.
Curaleaf Holdings ha obtenido una nueva línea de crédito revolving de 40 millones de dólares con un importante banco comercial regional. Esta instalación garantizada de dos años, que vence el 15 de diciembre de 2026, tiene una tasa de interés del 7,99% sobre el capital pendiente. La línea de crédito apoyará propósitos corporativos generales y necesidades de capital de trabajo. El CEO Boris Jordan destacó esto como un logro significativo, proporcionando flexibilidad inusual en el sector del cannabis durante un entorno de difícil recaudación de fondos. La instalación está alineada con el enfoque de la empresa en medidas de ahorro de costos e iniciativas de crecimiento rentable.
큐레리프 홀딩스가 주요 지역 상업은행과 4천만 달러 규모의 회전 신용 시설을 확보했습니다. 이 2년 만기 보장 시설은 2026년 12월 15일에 만기가 되며, 미결제 원금에 대해 7.99%의 이자율이 적용됩니다. 이 신용 한도는 일반 기업 목적 및 운영 자본 필요를 지원할 것입니다. CEO 보리스 조던은 이를 자금 조달이 어려운 환경에서도 유례없는 유연성을 제공하는 중요한 이정표로 강조했습니다. 이 시설은 비용 절감 조치와 수익성 있는 성장 이니셔티브에 대한 회사의 초점과 일치합니다.
Curaleaf Holdings a obtenu une nouvelle ligne de crédit revolving de 40 millions de dollars auprès d'une grande banque commerciale régionale. Cette facilité sécurisée de deux ans, qui arrive à échéance le 15 décembre 2026, comporte un taux d'intérêt de 7,99 % sur le principal impayé. La ligne de crédit soutiendra les besoins généraux de l'entreprise et de fonds de roulement. Le PDG Boris Jordan a souligné qu'il s'agissait d'un accomplissement majeur, offrant une flexibilité peu commune dans le secteur du cannabis en période de difficultés sur le marché du financement. La facilité est en accord avec l'objectif de l'entreprise de réduire les coûts et d'initier une croissance profitable.
Curaleaf Holdings hat eine neue 40 Millionen Dollar revolvierende Kreditlinie bei einer großen regionalen Geschäftsbank gesichert. Die zwei Jahre laufende gesicherte Kreditlinie, die am 15. Dezember 2026 fällig ist, hat einen Zinssatz von 7,99% auf den ausstehenden Hauptbetrag. Die Kreditlinie wird allgemeine Unternehmenszwecke und den Bedarf an Betriebskapital unterstützen. CEO Boris Jordan betonte dies als einen Meilenstein, der eine ungewöhnliche Flexibilität im Cannabis-Sektor in einem herausfordernden Umfeld für die Kapitalbeschaffung bietet. Die Einrichtung passt zu dem Fokus des Unternehmens auf Kostensenkungsmaßnahmen und gewinnbringende Wachstumsinitiativen.
- Secured $40 million revolving credit facility providing additional liquidity
- Obtained traditional banking financing, uncommon in cannabis sector
- Flexible credit line available for working capital needs
- 7.99% interest rate on outstanding principal indicates relatively high borrowing costs
The new revolving line of credit will support ongoing working capital needs
Boris Jordan, Curaleaf Chairman and Chief Executive Officer, commented, "In my first few months in my new role as CEO, I've been focused on cost-savings measures across every facet of the business, with the intent of driving profitable growth. With our new revolving credit facility, we will have an opportunity to better support various business needs across the globe. This is a milestone event for Curaleaf as this credit line provides flexibility traditionally not available to the cannabis sector, and allows us to continue growing Curaleaf as the leader of the global cannabis industry during what continues to be a difficult capital raising environment."
The new two-year secured revolving credit facility has a maturity date of December 15, 2026. Borrowings under the facility bear interest on any outstanding principal of
About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find, The Hemp Company and Zero Proof provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is the largest vertically integrated cannabis company in
Forward Looking Statements:
This media advisory contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", "expects" or "proposed", "is expected", "intends", "anticipates", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning its new revolving credit facility. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest annual information form filed on March 6, 2024, which is available under the Company's SEDAR profile at http://www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Toronto Stock Exchange has not reviewed, approved or disapproved the content of this news release.
Contacts:
Investor Contact:
Curaleaf Holdings, Inc.
Camilo Lyon, Chief Investment Officer
IR@curaleaf.com
Media Contact:
Curaleaf Holdings, Inc.
Jordon Rahmil, VP Public Relations
media@curaleaf.com
View original content:https://www.prnewswire.com/news-releases/curaleaf-secures-new-40-million-revolving-credit-facility-302297981.html
SOURCE Curaleaf Holdings, Inc.
FAQ
What is the size of Curaleaf's (CURLF) new credit facility?
When does Curaleaf's (CURLF) new credit facility mature?
What is the interest rate on Curaleaf's (CURLF) new credit facility?
What will Curaleaf (CURLF) use the new credit facility for?
