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    cannabis investing

    Rubicon Organics Announces US$3 Million Secured Debt Financing

    Danielle Edwards
    Mar. 02, 2020 05:14AM PST
    Cannabis Investing News

    Rubicon announced that it, through a subsidiary, has completed a US$3 million debt financing loan from an unnamed US real estate group.

    Rubicon Organics (CSE:ROMJ,OTCQX:ROMJF) announced that it, through a subsidiary, has completed a US$3 million debt financing loan from an unnamed US real estate group.

    As quoted in the press release:

    The Loan is for a term of 24 months, bears interest at 12.9% per annum, and is secured by a first ranking mortgage on the Company’s hybrid facility in Ferndale, Washington (the “Property”). The Loan will be used for general working capital purposes as the Company ramps-up production and sales across Canada.

    “We are excited to complete this non-dilutive financing which will allow Rubicon to accelerate the distribution of Simply Bare™ Organic flower to the provinces and retail stores across Canada,” stated Jesse McConnell, CEO of Rubicon Organics.

    Click here to read the full press release.

    rubicon organicsotc:romjfcannabis investingjesse mcconnellcse:romj
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