Gold Flora Corporation Closes Convertible Note Loan Facility
On August 28, 2024, Gold Flora Corporation, a leading vertically integrated California cannabis company, announced the closing of a convertible note loan facility with Utah-based J.J. Astor & Co. for up to US$13.15 million, with an initial draw of US$7.15 million and the potential for up to three additional US$2-million draws. The proceeds of the loan facility will be used primarily for working capital and other corporate purposes.
Upon any event of default, the lender may elect to accelerate payment subject to a default premium and/or convert into shares of Gold Flora common stock, subject to certain limitations and cure periods, including applicable pricing and dilution limitations of the Cboe Canada Inc.
Aird & Berlis represented Gold Flora Corporation, as Canadian counsel, with a team that included Sherri Altshuler, Amy Marcen-Gaudaur and Ryan Cohen (Capital Markets).
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BioFull bio
Sherri earns the trust of her clients by adeptly managing complex and time-sensitive corporate finance transactions and by providing relevant, busines...
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BioFull bio
Amy is a partner with the firm's Capital Markets, Mergers & Acquisitions and Venture Finance Groups.
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BioFull bio
Ryan’s background in business gives him valuable insight and practical experience when representing clients on capital markets and securities ma...
