Goodness Growth Holdings Announces Closing of Recently Announced Non-Brokered Private Placement
Summary
While the parties are working toward finalizing a longer-term extension of the credit agreement, the eighth amendment extends the maturity date on the term loan until July 31, 2024, matching all other terms of the existing agreement.Goodness Growth Holdings Chief Executive Officer Josh Rosen commented, While the timing of todays announcements of the closing of our previously announced private placement and temporary extension of our credit agreement are unrelated, it is important to highlight that both of these developments were completed with the continued support of our senior secured lender. The private placement was completed essentially at market to help us execute a high ROI investment opportunity and prepare our business for the launch of adult-use sales in Minnesota. We work every day to get better and our team prioritizes 1) empowering and supporting strong local market leaders and 2) strategic, prudent capital and human resource allocation. Financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to various risks as set out herein and in our Annual Report on Form 10-K filed with the Securities Exchange Commission. Forward-looking information is based upon a number of estimates and assumptions of management, believed but not certain to be reasonable, in light of managements experience and perception of trends, current conditions, and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, the reader should not place undue reliance on the forward-looking information because the Company can give no assurance that they will prove to be correct.