CANADA: Brick Brewing secures extra financing
Canadian beer maker Brick Brewing has secured extra financing to fund expansion at its warehouse in Kitchener, Ontario.
Brick Brewing said today (10 April) that Canadian bank Roynat Capital had agreed an extra cash injection of C$2m (US$1.7m). The agreement comes on top of C$3.5m already loaned to Brick Brewing by Roynat Capital.
"This financing will provide the company with supplemental funding for the capital projects which are expected to increase our capacity and reduce the variable costs in our packaging operations," said Brick Brewing CFO Graydon Moore.
He added: "The packaging line, which is currently undergoing start-up testing, is expected to deliver both margin improvements and capacity, greater than originally contemplated."
Sectors: Beer & cider
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