Canopy Rivers-backed PharmHouse inks $80 mln facility

PharmHouse Inc, a joint venture of Canopy Rivers and North American greenhouse produce companies, has secured a debt facility of up to $80 million. Bank of Montreal was the facility's agent and lead lender. The other lenders were Canadian Imperial Bank of Commerce and Concentra Bank. The proceeds will be used to finalize the purchase of a 1.3 million square-foot greenhouse facility in Leamington, Ontario and fund project equipment and construction costs. Canopy Rivers, the investment arm of Canadian cannabis producer Canopy Growth Corp, owns 49 percent of PharmHouse.

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