Medcolcanna Organics Inc.: Medcolcanna Organics Announces Bridge Loan Arrangement
Medcolcanna ,
MCCN or the
Company ), a leading Colombian and globally integrated cannabis company, announces an update with respect to the previously announced bridge loan arrangement with certain executive officers (the
Lenders ) of the Company (the
Bridge Loan ), as more particularly set forth in the press release dated January 4, 2021. Under the terms of the Bridge Loan, the Lenders provided an initial bridge loan financing amount of $275,000 for a two-year term at an annual interest rate of 7.85%, with interest payments completed quarterly and with amortization of same commencing fifteen months from the date of the loan. Pursuant to recent amendments to the term of the Bridge Loan, an additional amount of $225,000 is to be made available pursuant to the Bridge Loan on or after January 21, 2021 with an option commencing that date and lasting until February 21, 2021 for an additional $25
BOGOTÁ, Colombia, Dec. 24, 2020 (GLOBE NEWSWIRE) Medcolcanna Organics Inc. ("Medcolcanna", "MCCN" or the "Company") (NEO: MCCN), a leading Colombian and .