Entourage Health Corp. Expands Credit Line by CA$3 Million Amid Plans to Go Private
Canadian cannabis company Entourage Health Corp. has secured an additional CA$3 million ($2.1 million USD) in financing, only days after shareholders approved its transition to a private entity.
Entourage Extends Credit Facility Maturity Date to December 2025
As part of its financial restructuring, Entourage has extended the maturity date of its credit facilities to December 31, 2025, according to a company press release. This move provides the company with additional financial flexibility as it prepares to go private.
Financing Secured Through Related Party of LIUNA Pension Fund
The additional credit line is being provided by 2437653 Ontario, a related entity of the LIUNA Pension Fund of Central and Eastern Canada. This continued financial backing highlights ongoing support from key stakeholders as Entourage navigates its strategic shift.
Entourage’s Move to Go Private Nears Completion Pending Court Approval
The credit line expansion comes just days after shareholders overwhelmingly approved Entourage’s plan to transition into a private company. The privatization process is expected to be finalized by March 31, pending court approval and fulfillment of other conditions.
Entourage Health Corp. Continues Focus on Medical and Adult-Use Cannabis
Despite financial restructuring, Entourage remains committed to its core business of cannabis production and distribution. The company operates in both the medical and recreational markets, with a portfolio of brands that includes Starseed Medicinal, Color Cannabis, and Saturday Cannabis.
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