The Agent and the Borrower have agreed to enter into the third amendment to the Credit Agreement to, amongst other things: (i) increase the term portion of the credit facility by $4,000,000 to $24,000,000; (ii) amend the EBITDA financial covenant to take effect June 30, 2022; (iii) remove the required $6,000,000 prepayment via funds raised by public issuance of equity securities in the company.; (iv) remove the required $4,000,000 prepayment via funds raised by the sale of HemPoland Sp. Z o.o.; and (v) introduce certain prepayment fees in the combined amount of 2% of any prepayments; subject to the satisfaction of the various conditions set out therein. All other terms of the credit facility will remain the same as before, including the maturity date of June 30, 2023.

"As we continue to grow our market share in the Canadian retail cannabis market, we are seeing opportunities to accelerate our revenue growth profile," said Sean Bovingdon, CEO of TGOD.  "Having immediate access to an additional $4 million in the term facility will allow us the flexibility to explore potential cultivation expansion in B.C. and Quebec and meet consumer demand for TGOD, Highly Dutch and Cruuzy products across the country. Additionally, the relaxation of covenants provides us the ability to hit profitability while maximizing shareholder value."