Zoetic International PLC - London-based cannabidiol products company - Signs financing agreement with LDA Capital, under which a facility will be set up with a commitment of GBP35 million and a term of 36 months. Facility has a minimum draw down amount of GBP15 million.
Facility will provide Zoetic with enough capital to pursue new distribution opportunities in the US and Europe for its Chill product line.
"We are thrilled to have found an ideal financial partner in LDA Capital, not least because it brings highly significant strategic benefits to the table. LDA has executed on multiple international transactions and we anticipate significant synergies from the partnership," notes co-Chief Executive Officer Trevor Taylor.
Current stock price: 104.00 pence
Year-to-date change: up 49%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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