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BRIEF-Cresco Labs Announces Signing Of Senior Secured Credit Agreement

Published 2020-01-23, 07:56 a/m
Updated 2020-01-23, 01:08 p/m
BRIEF-Cresco Labs Announces Signing Of Senior Secured Credit Agreement

Jan 23 (Reuters) - Cresco Labs Inc CL.CD :

* CRESCO LABS ANNOUNCES SIGNING OF SENIOR SECURED CREDIT AGREEMENT

* CRESCO LABS - ENTERED INTO A NON-BROKERED CREDIT AGREEMENT FOR SENIOR SECURED TERM LOAN IN AN INITIAL AMOUNT OF UP TO $100 MILLION

* CRESCO LABS INC - CREDIT AGREEMENT INCLUDES MUTUAL OPTION TO INCREASE TO UP TO $200 MILLION

* CRESCO LABS - EXPECTS TO COMPLETE AN INITIAL DRAWDOWN OF UP TO $100 MILLION ON OR ABOUT JANUARY 30, 2020

* CRESCO LABS INC - PROCEEDS FROM SENIOR LOAN WILL BE USED TO FUND EXPANSION OF OPERATIONS IN ILLINOIS

* CRESCO LABS INC - PROCEEDS FROM SENIOR LOAN WILL BE ALSO USED TO FUND CLOSING AND INTEGRATION COSTS ASSOCIATED WITH PENDING ACQUISITIONS

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