Mich. Pot Co. Obtains Financing from a Federally Chartered Bank

By Sarah Jarvis (April 28, 2022, 9:36 p.m. EDT) – Michigan-based cannabis company Fluresh LLC announced that it has entered into a $25 million senior secured note with a bank that also completed a refinancing of $23 million in debt, which Fluresh called one of the largest debt financings of a cannabis operator by a federally chartered bank.

Fluresh said in an announcement Wednesday that the secured banknote, which closed in December, represents aggregate gross proceeds of $25 million and had an interest rate of 5.75% per annum at the time of closing. , with 50% of total proceeds capped at 7%.

The company did not specify which bank it was working with, saying only…

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