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.
害羞草研究所淭he company is now free of all debt liabilities, with all security interests removed and the company害羞草研究所檚 assets fully unencumbered,害羞草研究所 GTEC said in a statement.
害羞草研究所淎ccordingly, the company now has a strong working capital position and balance sheet, with a current cash balance of approximately $19 million.害羞草研究所
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twila.amato@blackpress.ca
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