On May 29, 2019, Bridging Finance Inc. (“Bridging”), a mid-market alternative finance institution, completed a US $ 50 million senior secured financing for the Harvest Group family of companies. This transaction is one of the only senior secured financings to have been made for a cannabis company.
Founded in 2012, Bridging, a Canadian private company, provides Canadian companies operating in the mid-market with alternative financing options distinct from those offered by conventional lenders. This financing will allow Bridging to meet certain short-term needs, including the restructuring of existing debt, the provision of working capital for growth purposes as well as the financing necessary to support the purchase of inventory, capital expenditures and acquisitions / buyouts.
Miller Thomson advised Bridging on this financing with a team including Kenneth Rosenstein and Ethan Campbell (financial services).