PICKERING, Ontario – MTL Cannabis Corp. has fully repaid its 13.25% mortgage payable originally issued by MTL’s predecessor company to a private lender prior to the Company’s business combination with Canada House Cannabis Group.
MTL fully paid off the mortgage in the amount of $2,129,423.90, consisting of a principal amount of $2,105,871.57 and interest and fees of $23,552.33.
“We are very fortunate to be in a position to continue to self-fund our ongoing organic growth, expansion of our operating assets, and reducing our interest expenses to maximize financial flexibility and strengthen our balance sheet.” Commented Michael Perron, CEO of MTL Cannabis Corp.
About MTL Cannabis Corp.
MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. (“MTL Cannabis”), a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions.
