CannaTrust Holdings (CSE: TRST) has closed a US$15 million mortgage financing for its Phase 2 construction of a 180,000 sq. ft. greenhouse cultivation facility in Niagara. This deal inks another of many closed financings by CannaTrust Holdings that has moved the company forward on completion of their multi-phase greenhouse construction project.
Meridian Credit Union has provided US$10 million upon the initial closing of the financing, with the other US$5 million will be held contingent on CannaTrust Holdings ability to complete Phase 2 construction on their 180,000 sq. ft. facility.
Also recently announced, CannTrust Holdings has received a sales license from Health Canada for the cannabis greenhouse facility in Niagara. CannTrust has already finished the construction of phase 1 of the facility on time and on budget. With Phase 1 and 10 successful harvests completed, CannaTrust looks determined to complete their multi-phase project to buildout a 46-acre state of the art cannabis greenhouse facility.