Cresco Labs Closes $100 Million Credit Facility

A new line of credit is now at the disposal of Cresco Labs (OTC: CRLBF). The company announced Monday it has closed a credit facility from which it will initially draw down $100 million.

Cresco first announced in January it was arranging the facility. The credit is being provided by what the company terms "a broad syndicate of lenders."

These include institutional investors, the company added, plus a number of its managers and members of its board of directors. It did not further identify any of those parties, although it did say the terms were negotiated at arm's length -- in other words, with all parties acting and deciding independently.

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Source Fool.com