Canadian cannabis company Entourage Health Corp. increased its credit line from by about 3 million Canadian dollars (roughly $2.1 million), only days after shareholders approved taking the company private.
The maturity date of each credit facility has been extended to Dec. 31, 2025, according to a news release.
The lender is 2437653 Ontario, a related party of the LIUNA Pension Fund of Central and Eastern Canada.
The move comes just days after Entourage shareholders approved the company’s plan to go private.
The proposal to go private is expected to be completed March 31, pending court approval and other conditions.
Entourage produces and distributes cannabis for both medical and adult use.
Its brands include Starseed Medicinal, Color Cannabis and Saturday Cannabis.
