AWH Announces Additional Senior Debt Financing of US$36.5 Million
— Closing of additional financing under the option to increase the existing term loan —
NEW YORK, May 18, 2022 /PRNewswire/ – To go up Wellbeing Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state vertically integrated cannabis operator focused on improving lives through cannabis, is pleased to announce that it closed its doors on $36.5M additional financing under the option to increase its existing term credit facility. In August 2021the Company announced that it had closed the $210 million Senior secured term loan credit facility with Seaport Global Securities LLC as lead manager.
“We appreciate the support of our lenders and are pleased to obtain $36.5 million additional funding. This funding will support our investments in near-term growth initiatives, including the expansion of our Pennsylvania assets and acquisition of MedMen NY. We continue to explore all financing options, including additional capacity under the term loan increase option,” said Dan NevilleCFO of AWH.
About Ascend Wellness Holdings, Inc (AWH):
AWH is a vertically integrated, multi-state cannabis operator with licenses and assets in Illinois, Michigan, Ohio, Massachusetts, New Jerseyand Pennsylvania. AWH owns and operates state-of-the-art cultivation facilities, cultivating award-winning varieties and producing a curated selection of produce for retail and wholesale customers. AWH produces and distributes its own Simply Herb, Ozone and Ozone Reserve branded products. For more information, visit www.awholdings.com.
This press release contains forward-looking information and statements, which may include, but are not limited to, information and statements regarding the Company’s plans, intentions, expectations, estimates and beliefs. Words such as “expects”, “continues”, “will”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current projections and expectations regarding future events and financial trends, and on certain assumptions and analyzes made by the Company in light of experience and perception of historical trends, current conditions and expected future developments and other factors. management deems appropriate.
Forward-looking information and statements involve and are subject to known and unknown assumptions and risks, uncertainties and other factors that may cause the Company’s actual events, results, performance or achievements to differ materially from the events, results, performance, and the achievements expressed or implied by the forward-looking information and statements contained herein. These factors include, among others: the risks and uncertainties identified in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and in the Company’s other reports and filings with applicable Canadian securities regulators and the United States Securities and Exchange Commission. Although the Company believes that all forward-looking information and statements contained herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that such information and statements forward-looking statements will prove to be accurate and, accordingly, readers are urged to rely on their own assessment of such risks and uncertainties and not to place undue reliance on such forward-looking information and statements. All forward-looking information and statements contained herein are made as of the date hereof, and except as required by applicable law, the Company undertakes no obligation and disclaims any intention to update or revise the information and statements. forward-looking statements contained herein or to update the reasons that actual events or results could differ or differ from those projected in the forward-looking information and statements herein, whether as a result of new information, events or results future, or otherwise, except as required by applicable law.
CSE has not reviewed, approved or disapproved of the contents of this press release.
SOURCE Ascend Wellness Holdings, LLC