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CALGARY, AB, Dec. 30, 2020 /PRNewswire/ - Decibel Cannabis Company Inc. (the Company or Decibel ) (TSXV: DB) (OTCQB: DBCCF), is pleased to announce that it has entered into a commitment letter with Connect First Credit Union Ltd. (
First Calgary ) in respect of $30 million of debt capital (the
Committed Amount ). The Committed Amount is comprised of $28.5 million of term debt (the
Term Debt ) and a $1.5 million authorized overdraft against government receivables (the
Authorized Overdraft ) (collectively, the
Credit Facilities ). The funds will be used to repay Decibel s existing debt ($26.8 million) and provide additional funds for working capital.
Financing Highlights