Note 10 - Bank Indebtedness |
3 Months Ended |
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Aug. 31, 2022 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] |
Note 10. Bank indebtedness
Aphria Inc., a subsidiary of the Company, has an operating line of credit in the amount of which bears interest at the lender’s prime rate plus 75 basis points. As of August 31, 2022, the Company has drawn on the line of credit. The operating line of credit is secured by a security interest on that certain real property at 265 Talbot St. West, Leamington, Ontario.
CC Pharma GmbH, a subsidiary of the Company, has three operating lines of credit for and each, which bear interest at Euro Over Night Index Average plus 1.79% and Euro Interbank Offered Rate ("EURIBOR") plus 3.682% respectively. As of August 31, 2022, a total of ($8,282) was drawn down from the available credit of The operating lines of credit are secured by a security interest in the inventory of CC Pharma GmbH.
Four Twenty Corporation (“420”), a subsidiary of the Company, has a revolving credit facility of $30,000 which bears interest at EURIBOR plus an applicable margin. As of August 31, 2022, the Company has drawn $10,000 on the revolving line of credit. The revolving credit facility is secured by all of 420's assets and includes a corporate guarantee by a subsidiary of the Company.
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