- B.C. Craft Supply (CRFT) has secured C$415,000 in interim financing from Avro Capital
- The funds will enable the company to continue with its operations, meet its obligations and advance certain growth initiatives
- It filed for creditor protection earlier in the week
- B.C. Craft Supply is focused on cannabinoid and psychedelic innovation and psychotherapy
- B.C. Craft Supply (CRFT) is up by 26.83 per cent trading at $0.26 per share
B.C. Craft Supply (CRFT) has secured C$415,000 in interim financing from Avro Capital.
The funds will enable the company to continue with its operations, meet its obligations and advance certain growth initiatives.
The financing is secured by a priority court-ordered charge in the principal amount plus interest of 11.5 per cent per year. The debt ranks in priority to all other encumbrances on the company and will mature six months from the date of the first advance.
The news follows B.C. Craft’s filing for protection from its creditors earlier this week.
“We believe we have captured the most favorable financing arrangement presently available to the company that will sufficiently carry us through to the next steps of restructuring,” stated Matt Watters, B.C. Craft’s CEO.
B.C. Craft Supply is focused on cannabinoid and psychedelic innovation and psychotherapy.
B.C. Craft Supply (CRFT) is up by 26.83 per cent trading at $0.26 per share as of 1:37 pm EST.