Sundial announces credit facility with Bank of Montreal
CALGARY, March 7, 2019 /CNW/ – Sundial Growers Inc. (“Sundial” or the “Company”) is pleased to announce that it has entered into a $30 million credit facility (“Credit Facility”) with the Bank of Montreal (“BMO”). The Credit Facility closed on February 22, 2019.
The BMO Credit Facility will enable Sundial to finance its European initiatives, accelerate the company’s Help and Play opportunity areas and satisfy general working capital requirements in Canada. The Credit Facility also strengthens Sundial’s balance sheet and reduces the company’s cost of capital.
The partnership with BMO, one of Canada’s leading banks, demonstrates their confidence in what Sundial is accomplishing. This will enable us to continue our global expansion and support our purpose of proudly crafting pioneering cannabis brands to Heal Help Play™.
Torsten Kuenzlen, CEO of Sundial
For more information about Sundial, visit www.sundialcannabis.com and follow us on Twitter @sundialcannabis and Instagram @SundialCannabis.
About Sundial Growers Inc.
Sundial proudly crafts pioneering cannabis brands to Heal Help Play™. To better understand and meet consumer needs, Sundial focuses its efforts on three key opportunity areas we call Heal Help Play™. The proprietary Heal Help Play™ approach aims to simplify industry jargon and make Sundial cannabis products easy to choose and enjoy. Optimizing company resources towards these distinct opportunities will uniquely position Sundial as a leader in the industry.
Sundial grows premium quality, small-batch cannabis with its best-in-class facilities. The company differentiates itself from other licensed producers by growing “craft-at-scale” cannabis using purpose-built modular systems (Solaria Modules) and award-winning genetics.
Sundial operates two facilities in Alberta, including our flagship facility in Olds and a second production facility in Rocky View, with plans to build a third facility in British Columbia.