TORONTO, Dec. 5, 2019 /CNW/ - Trichome Financial Corp.
(the "Company" or "Trichome Financial") (TSXV: TFC)
is pleased to announce that its Senior Secured Term Loan (the
"Secured Loan") to MYM Nutraceuticals Inc. ("MYM") (CSE:MYM)
(OTCBB:MYMMF) has been prepaid. The cash advance made under
the Secured Loan has been repaid in full, together with interest
and set-up fee for the term during which the loan remained
outstanding. The Secured Loan was initially advanced on
July 31, 2019, with an option to
increase the size of the facility to $5.5
million. Proceeds from the Secured Loan were used in
part to fund MYM's transaction with BioHemp Naturals Growing and
Farming Ltd., the rescission of which led to a mutual decision
whereby MYM would repay outstanding obligations of the Secured Loan
ahead of schedule. The Secured Loan generated an internal
rate of return of approximately 30%.
"While we are pleased to have been repaid on our loan, we remain
supportive of MYM as they pursue strategic options that may arise,"
said Michael Ruscetta, Trichome
Financial's Chief Executive Officer.
About Trichome Financial Corp.
Trichome Financial is a specialty finance company focused on
providing flexible and creative credit solutions to the global
legal cannabis market. Trichome was created to address the lack of
credit availability in the large, growing and increasingly complex
cannabis market. Founded by industry leaders Origin House and Stoic
Advisory, Trichome Financial's experienced management team has a
unique edge to capitalize on proprietary deal flow and industry
insight while developing a first mover advantage as a global
cannabis focused specialty finance company. Trichome Financial
provides customized financing solutions across the industry value
chain to support growth, capital expenditures, mergers,
acquisitions, working capital and other needs. Leveraging the
combined resources and knowledge of its founders, it is able to
offer significant value-added financial, product, market and
operational support to its partner companies. Trichome Financial's
current assets are all based in Canada and it has no operations or assets in
the United States.
For further information about Trichome Financial please visit us
at www.trichomefinancial.com or @trichomefinance on Twitter and
refer to the joint information circular of Trichome Financial and
22 Capital dated May 29, 2019 which
is available on the Company's SEDAR profile at www.sedar.com.
READER ADVISORY
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements relate
to, among other things: Trichome Financial's ability to redeploy
funds. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors which may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; and the delay or failure to receive board,
shareholder or regulatory approvals. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on the forward-looking statements and information
contained in this news release. Except as required by law, Trichome
Financial assumes no obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors,
should they change.
SOURCE Trichome Financial Corp.
