Justice Cannabis expands AFC Gamma credit facility to $75.4 million

By Marisa Wong

Los Angeles, Oct. 4 – Justice Cannabis Co. obtained $53.4 million of additional commitments under its senior credit facility, according to a news release.

This brings total commitments to $75.4 million.

Specifically, AFC Gamma, Inc. committed an additional $43.4 million under the expanded credit facility, with $10 million syndicated to an affiliate. AFC Gamma now holds a total of $65.4 million of the facility.

The expansion is designed to provide Justice Cannabis with additional capital to purchase assets and develop its operations in New Jersey, further develop its Pennsylvania cultivation facility and refinance existing debt.

The loan is secured by a first-lien mortgage on Justice Cannabis’ owned real estate in New Jersey and Pennsylvania and other commercial security interests.

AFC Management, LLC acted as agent for the transaction.

The multi-state operating cannabis company is based in Chicago.

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