Sundial Growers Inc. (“Sundial” or the “Company”) is pleased to announce that it has entered into a $30 million credit facility (“Credit Facility”) with the Bank of Montreal (“BMO”). The Credit Facility closed on February 22, 2019.
The BMO Credit Facility will enable Sundial to finance its European initiatives, accelerate the company’s Help and Play opportunity areas and satisfy general working capital requirements in Canada. The Credit Facility also strengthens Sundial’s balance sheet and reduces the company’s cost of capital.
“The partnership with BMO, one of Canada’s leading banks, demonstrates their confidence in what Sundial is accomplishing,” said Torsten Kuenzlen, CEO of Sundial. “This will enable us to continue our global expansion and support our purpose of proudly crafting pioneering cannabis brands to Heal Help PlayTM.”