Asset Scramble: Body & Mind Secures $2.3M To Drive Cannabis Growth In Illinois And New Jersey
Asset Scramble: Body & Mind Secures $2.3M To Drive Cannabis Growth In Illinois And New Jersey
Previously unsecured, these debentures are now secured alongside the new credit facility, giving Bengal priority on any repayment.Body and Mind Inc. (CSE:BAMM), (OTC:BMMJ), a multi-state cannabis company, announced a new credit facility with Bengal Catalyst Fund, LP, securing up to $2.3 million to support its U.S. expansion efforts. The financing aims to help Body and Mind build out key dispensary projects in Illinois and New Jersey, while also allowing the company to focus on optimizing its asset base and enhancing shareholder value.
Body and Mind Inc.（cse:BAMM），（場外交易:BMMJ），一家多州大麻公司，宣佈與孟加拉催化基金LP達成新的信貸協議，最高可獲得230萬美元的支持，以支持其在美國的擴張努力。這項融資旨在幫助Body and Mind在伊利諾伊州和新澤西州建立關鍵的藥房項目，同時也讓該公司專注於優化其資產基礎和增強股東價值。
"The credit facility agreement gives the company flexibility to accomplish its near-term objectives of rationalizing its asset base and protecting shareholder value, which includes supporting the development of its in-process dispensary projects in Illinois and New Jersey," stated Michael Mills, CEO of Body and Mind. "Additionally, when we sold our Ohio dispensary, we negotiated a US$2.5 million contingent payment should a second retail license be awarded and subsequently opened."
「信貸協議賦予公司靈活性，以完成其近期的目標，包括整理資產基礎和保護股東價值，其中包括支持在伊利諾伊州和新澤西州進行中的藥房項目的發展，」 Body and Mind的CEO邁克爾·米爾斯表示。「此外，當我們出售了俄亥俄藥房時，我們談判了一項附帶支付，如果獲得第二張零售許可證並隨後開業，將支付250萬美元。」
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Credit Facility Terms
信貸協議條款
The new credit facility from Bengal Catalyst Fund carries an 18% annual interest rate and is available for up to one year with a maturity date of two years from the first draw. Body and Mind has also amended its existing convertible debentures with Bengal and related funds, adjusting the interest rate to 15%, paid half in cash and half in kind.
孟加拉催化基金提供的這項新信貸協議年利率爲18%，最長可使用一年，到期日爲首次取款日起兩年。Body and Mind還與孟加拉及相關基金修改了現有的可轉換債券，將利率調整爲15%，一半以現金支付，一半以實物支付。 這些此前未擔保的債券現與新信貸協議一起擔保，使孟加拉在任何償還中享有優先權。
Previously unsecured, these debentures are now secured alongside the new credit facility, giving Bengal priority on any repayment.
這些以前未擔保的債券現在與新信貸協議一起擔保，使孟加拉在任何償付方面具有優先權。
Read Also: Body and Mind Narrows Loss By 30% YoY In Q3, Doubles Down On Streamlining Operations
閱讀更多：Body and Mind第三季度減虧幅度30%，加倍努力優化業務運營
Regulatory And Financial Context
監管和財務背景
As a related party transaction under Multilateral Instrument 61-101, the company secured exemptions from formal valuation and minority approval. Body and Mind's independent board members unanimously supported the transaction, deeming it essential for the company's financial position and future growth strategy in the competitive U.S. cannabis market.
作爲61-101多邊協議下的關聯方交易，公司獲得了豁免正式評估和少數意見批准。Body and Mind的獨立董事會成員一致支持該交易，認爲這對公司在競爭激烈的美國大麻市場中的財務狀況和未來增長策略至關重要。
譯文內容由第三人軟體翻譯。
