 Hey guys, how you doing? This is rich from which to be live and I have some breaking news Organogram I'm telling you guys These guys are becoming one of the most powerful cannabis companies in the world Organogram closes a hundred and forty million credit facility with Bank of Montreal now. Here's the symbol in America Only at seven dollars and twenty four cents I see so much upside here and if you look at the last couple years you can see organogram has been huge success Literally priced at 18 cents in 2015 has gone all the way up to seven dollars in America now I mean this has been a staggering success. Okay, and I believe this continues. Let's just go through this news This is a non-dilutive financing providing the company with significant financial flexibility meaning this isn't a debt spiral type financing I don't believe that this company will go down on this financing But if the market continues to be a bear market, I wouldn't be surprised if it keeps going down I don't believe that this will go down based on this financing But it may go down based on the fact that the market is bear, but that could change that can change in an instant I really believe that organogram has a chance to be one of the biggest and one of the best Cannabis companies in the entire world and they are growing. They are now Set up on the senior exchange in America They are on The watch list of the Bank of Montreal. Here it is organogram holdings OGI on the NASDAQ OGI on the Toronto Stock Exchange venture exchange the parent company of organogram Inc Collectively the company or organogram is a leading licensed producer of cannabis is pleased to announce it has closed It's previously announced credit facility with Bank of Montreal BMO as leader ranger an agent as well as syndicate including three other lenders the facility consists of 115 million term loan and a 25 million revolving credit facility together the facilities both of which mature in May 2022 including in the facility is an uncommitted option to increase the facilities by incremental 35 million to a total of 175 million subject to agreement by BMO Bank of Montreal and satisfaction of certain legal and business conditions Wow, this is big This is huge for organogram the closing of this credit facility reflects BMO and syndicate lenders vote of confidence in our management team Ability to deliver financial results and investment in our world-class Moncton campus our current expansion plans are fully funded as we continue to remain on track for competition of for completion of phase 4 and phase 5 of our campus that is Greg Engel chief executive officer of Organogram as a company. We are always looking to optimize our capital structure and reduce our cost of capital Remarked Paulo Deluca chief financial officer. We have chosen not Access to public capital markets since our last financing in January 2018 in order to avoid Delusion to our shareholders. Do you see what's going on here? They've seen this delusion. They've been a part of it However, they had to take the delusion in the beginning. They all do That's how they all get started. So don't be afraid of delusion. Yeah It might take the stock down initially, but long term. This is where they go. Look at organogram They started off deluding now They don't have to dilute because they're a bigger company on a senior exchange if you're a small company and you need to Raise capital you're gonna do whatever it takes Including dilute your stock and that's what we've seen over and over and over again by a lot of companies And I believe we will continue to The credit facility is only possible because of our focus on running a profitable and sustainable business with a Discipline spend that sets us apart amongst our peers. They're not burning money Okay, that's what they mean by a discipline spend the facilities are secured by assets of organogram and its subsidiaries which primarily consist of the Moncton campus facility that Is projected to be able to produce dried flower or equivalent cannabis of approximately 113 kgs per year by the end of the calendar year 2019 and will also house state-of-the-art added value manufacturing equipment Including the previously announced 15 million infrastructure investment to produce world-class infused chocolate products. I love this Absolutely love this and you can see you can register fill out a medical form place in order It's very easy to use organogram and these guys are moving in the right direction The proceeds of the term loan will be used To fund the phase 4 and phase 5 Expansions of the Moncton campus and refinance the company's existing long-term debt with farm credit Canada The revolving credit facility may be used for general corporate and work-in-capital purposes Pursuant to the greed upon condition of the facilities organogram has initially drawn 50 million of the term loan commitment on Closing and can continue to draw down additional funds as required up to the 115 million term loan commitment through to November 30th 2019 principal repayment on the term loan will commence on February 28th 2020 at a rate of 2.5 percent or approximately 2.9 million per quarter thereafter the company may at its discretion Repay the balance of the facilities without penalty at any time. This is amazing This is exactly what organogram needed and if you're an investor in organogram You're excited right now the pricing of the facilities is set margin over the BMO's CAD prime rate or a banker's acceptance rate based on the applicable term which may increase or decrease based on A pricing grid linked to the company's debt to EBITDA coverage at Each quarter end based on the current banker's acceptance Benchmark rates and the highest pricing level and margin in pricing grid The interest payable is expected to be in the high four to low five per annum range. The facilities contain customary financial and restrictive covenants So Let's just read a little bit about organogram holdings. I Mean their website has really improved. I mean you can see their products here available coast to coast Oganogram holdings Inc is a NASDAQ global select and TSX venture listed Company whose wholly owned subsidiary organogram Inc is a licensed producer of cannabis and cannabis derived products in Canada Organogram is focused on producing the highest quality indoor grown cannabis for patients and adult recreational customers in Canada as well as developing International business partnerships to expand the company's global footprint Organogram has also developed a portfolio of legal adult use recreational cannabis brands including the Edison cannabis company Anchor organics trailer park buds and trailblazer Organograms primary facility is located in Moncton, New Brunswick And the company is regulated by the cannabis act and the cannabis regulations Canada neither TSX venture exchange nor its regulation service provider as That term is defined in policies of the TSX venture exchange accepts responsibility for the adequacy or accuracy of the release So you could see some of the products here on organograms website. You could see the price It's seven dollars and twenty four cents in America. It's been on a huge run from literally. What is this? 18 cents August 10 2015 less than four years ago now It's seven dollars and twenty five cents in America and if we look at the Canadian price It was over ten dollars It just dipped under ten dollars and we're now at nine dollars and eighty one cents and you can see we'll Mark this as well It was at thirty four cents same day August 10 2015 so from thirty four cents in Canada all the way to a high of 1131 just marking the low low and the high high and we're currently at nine eighty one with now a hundred and up to a hundred and seventy five million dollars in funding 140 guaranteed plus another option for another up to thirty five million which puts them at a hundred and seventy five million dollars of Credit facility from the bank in Montreal Love to know what you guys think about this if you like it smash the like button Remember rich TV live is strictly for education entertainment purposes always do your due diligence always do your research before you invest in anything that we talk about Invest in the best the best is blessed. Why should you invest in the best because you deserve it? Why not hold and own and trade the best? Gives you the best chance to win And once again, you deserve it. This is your boy rich from rich TV live I'm loving organogram has been one of my fab five for the last two years since I've been talking about cannabis stocks And I'm gonna continue to because I think this bad boy has enormous potential put them on your watch list Put them on your radar your boy rich from rich TV live. It's true. We owe peace