Tweed Marijuana Inc. (Tweed) has obtained a mortgage on Tweed Farms Inc., the recently acquired greenhouse facility and surrounding property located at 453 Concession #5 Rd, Niagara-on-the-Lake, Ont.
The mortgage was entered into with a leading Canadian financial institution.
The terms and funding, finalized on Nov. 7, are as follows: $1,875,000, 25-year amortization, with a five-year fixed annual interest rate of 5.3 per cent.
This mortgage agreement solidifies Tweed as a member of the business community in Niagara-on-the-Lake and strengthens the company’s ongoing strategy of geographic diversity and the high scale, low-cost production of premium medical marijuana.
The first harvest from Tweed Farms has arrived at Tweed’s state-of-the-art facility in Smiths Falls for processing.
Tweed’s largest harvest to date will be available to customers shortly.
About Tweed Marijuana Inc Tweed Marijuana Inc. is a TSX Venture Exchange listed company.
Its wholly owned subsidiaries Tweed Inc. and Tweed Farms Inc. (formerly Prime1 Construction Services Corp.) are licensed producers of medical marijuana in Canada. The principal activities of Tweed are the production and sale of marijuana through its wholly owned subsidiaries out of Tweed Inc.’s facility in Smiths Falls and Tweed Farms Inc.’s facility in Niagaraon-the-Lake, Ontario as regulated by the Marihuana for Medical Purposes Regulations.