Greenhouse Partners’ Joint Venture enters into credit agreement with Cronos Group Inc.

September 24, 2019

On August 23, 2019, Cronos Growing Company Inc. (“Cronos GrowCo”) entered into a credit agreement as borrower, with Cronos Group Inc. (NASDAQ: CRON, TSX: CRON) (“Cronos Group”), as the agent and lender, in respect of a $100 million secured non-revolving term loan credit facility. The funds will be used to fund the construction of a custom-built greenhouse for cannabis production in Kingsville, Ontario, and for general operating purposes.

Cronos GrowCo is a 50/50 joint venture owned by Cronos Group and a group of investors led by Bert Mucci (the “Greenhouse Partners”), one of Canada’s most sophisticated greenhouse operators and builders.

Miller Thomson represented Greenhouse Partners in this transaction, with a team led by Jay Sernoskie (Corporate/M&A) and comprised of Nora Osbaldeston and Marco Maduri (Financial Services) and Michael Wren (Transactions & Leasing).