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Cronos Group secured 40 million Canadian dollars ($32 million) for the continued construction of its 315,000-square-foot new Peace facility in Stayner, Ontario, which it says is the largest purpose-built indoor cannabis production facility in the world.
Cronos, based in Toronto and traded on the TSX Venture Exchange, entered into a commitment letter for CA$40 million in debt financing with Romspen Investment Corp., which will provide the funds to Cronos’ wholly owned licensed producer, Peace Naturals Project Inc.
The loan will be made available in multiple advances starting in