By Dave Harrison
Nov. 10, 2014, Smith’s Falls, Ont. — Tweed Marijuana Inc. has obtained a mortgage on Tweed Farms Inc., the recently acquired greenhouse facility and surrounding property located at 453 Concession #5 Rd, Niagara-on-the-Lake, Ontario.
The mortgage was entered into with a leading Canadian financial institution.
The terms and funding, finalized on Nov. 7, 2014, are as follows: $1,875,000, seven-year amortization, with a five-year fixed annual interest rate of 5.3 per cent.
This mortgage agreement solidifies Tweed as a member of the business community in Niagara-on-the-Lake and strengthens the Company’s ongoing strategy of geographic diversity and the high scale, low-cost production of premium medical marijuana.
The first harvest from Tweed Farms has arrived at Tweed’s state-of-the-art facility in Smiths Falls, Ontario for processing.
Tweed’s largest harvest to date will be available to customers shortly.