Westleaf consolidates and increases credit facilities with ATB Financial

On December 23, 2019, cannabis company Westleaf Inc. (TSXV: WL) (OTCQB: WSLFF) and We Grow B.C. Ltd. announced the completion of the previously announced plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia) involving Westleaf, We Grow and certain securityholders of We Grow.

Saskatchewan's Thunderchild First Nation is a significant shareholder in Westleaf.

Concurrent with the closing of the arrangement, Westleaf entered into credit facilities in the aggregate approximate amount of $26 million (which included consolidation of certain existing credit facilities the company level as part of the plan of arrangement) and the restricted cash requirement was removed.

Gowling WLG advised ATB Financial with a financial services team led by Beth Burton and that included Sunil Joneja and Reagan Chornoboy (Alberta), Graham Darling (Ontario), and Joy Ren and Hannah Thomson (British Columbia).