Acreage Enters Into Short-Term Definitive Funding Agreement

Agreement for a total of $15,000,000 in gross proceeds.

Acreage Holdings, Inc. (CSE: ACRG.U) today announced it entered into a short-term definitive funding agreement with an institutional investor for a total of $15,000,000 in gross proceeds.

FINANCING TERMS AND DETAILS

The secured note has a maturity date of four months and bears interest at a per annum rate of 60%. It is secured by, among other items, the Company's cannabis operations in Illinois, New Jersey and Florida, as well as the Company's U.S. intellectual property. In the event of default, the Company is further obligated to pay to Lender an additional fee of $6,000,000. The Company may prepay the note without penalty or premium at any time following the 90th day following the closing.

Acreage expects to use the proceeds for working capital and general corporate purposes.

To learn more about Acreage Holdings, visit the company HQ here.

Disclaimer: Past performance is not an indicator of future performance.

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Casey Peternell
Casey Peternell

Casey is a media and content creator with a keen eye for creativity. Casey is currently in the process of obtaining a double bachelors degree in Media & Communications and Business from Swinburne University in Melbourne.

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