A Kelowna-based cannabis company has paid off all its debts to the tune of $6 million, becoming one of the few debt-free companies in the industry.
GTEC Cannabis Co. announced on Friday, April 9 that it has repaid all its debts in full, which means it no longer has debt liabilities.
Paying off its debts also means GTEC will see over $1 million in interest savings over the next year.
含羞草研究社淭he company is now free of all debt liabilities, with all security interests removed and the company含羞草研究社檚 assets fully unencumbered,含羞草研究社� GTEC said in a statement.
含羞草研究社淎ccordingly, the company now has a strong working capital position and balance sheet, with a current cash balance of approximately $19 million.含羞草研究社�
READ: Kelowna-manufactured cannabis products launch at Shoppers
twila.amato@blackpress.ca
Like us on and follow us on .
