MMJ Group Holdings (ASX:MMJ) has entered into a secured loan agreement (the “Loan Agreement”) with Harvest One Cannabis Inc. (TSX-V: HVT; OTCQX: HRVOF) in the amount of CAD2m1 (the “Loan”) issued on January 13, 2020 (the “Issue Date”). MMJ is the largest shareholder holding 26%2 of HVT which is one of the largest investments within the MMJ cannabis and hemp portfolio.
The Loan bears interest at a rate of 15% per annum and the principal and accrued interest on the Loan is payable in arrears within 60 days of the Issue Date, subject to certain exceptions. Harvest One will grant MMJ a security interest in all current and after acquired property of HVT and its subsidiaries, subject to
certain permitted liens. HVT will use the proceeds from the Loan for general corporate purposes.
For more information, please download the attached PDF.
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