Cannabis operator Red White & Bloom restructures debt

Cannabis operator Red White & Bloom restructures debt
Photo by CRYSTALWEED cannabis on Unsplash

Canada-based cannabis multistate operator Red White & Bloom Brands has restructured about 145 million Canadian dollars ($105 million) of issued outstanding debt as part of a larger debt-renewal program.

The transaction is expected to reduce shareholder dilution, lower debt-carrying costs and enable the Toronto-headquartered company to refocus its operations on “profitable growth initiatives,” according to a news release.

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