CannTrust Exits Restructuring With $13.1M In PE Financing
By Sarah Jarvis (March 15, 2022, 7:56 PM EDT) -- CannTrust Holdings Inc. announced Tuesday that its subsidiary has completed a financing for CA$16.7 million ($13.1 million), ending the embattled cannabis company's restructuring under Canada's Companies' Creditors Arrangement Act.
CannTrust said a group of investors led by Marshall Fields International BV, a subsidiary of the Netherlands-based private equity investment company Kenzoll BV, invested CA$11.2 million, or nearly than $8.8 million, to acquire a 90% equity interest in CannTrust Equity Inc. The investor also provided a secured credit facility of CA$5.5 million, or about $4.3 million, which is subordinated to an existing credit facility arranged by Cortland Credit Lending Corp.
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