FLUENT secures additional $6 million through credit agreement amendment

FLUENT Corp. (CSE: FNT.U) (OTCQB: CNTMF) announced it has amended its senior secured credit agreement to access an additional $6 million in term loans. The cannabis company entered into the amendment with Chicago Atlantic Financial Services, LLC as administrative agent.

The term loans carry a paid-in-kind interest rate of 13.00% per annum and mature on December 31, 2026. FLUENT plans to use the proceeds for working capital and general corporate purposes, according to a company statement.

The original credit agreement was dated November 26, 2024, and involved FLUENT, its Canadian and US subsidiaries, and participating lenders. The amendment permits the company to draw the additional funds immediately.

FLUENT operates as a vertically-integrated cannabis company across Florida, New York, and Texas. The Tampa-based company employs approximately 650 people across 8 cultivation and manufacturing facilities and 35 retail locations. It also operates a wholesale division called ENTOURAGE that services third-party retailers in New York.

The company produces cannabis products under brands including MOODS, Knack, Wandr, Bag-O and Hyer Kind. Chicago Atlantic serves as an alternative investment manager focused on industries with limited traditional capital access and has closed over $3.3 billion in credit facilities.

FLUENT's shares trade on the Canadian Securities Exchange and the OTCQB Venture Market. The company will file the complete amendment text on SEDAR+.

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