Article content

Two of Canada’s largest banks — Bank of Montreal and Canadian Imperial Bank of Commerce — along with wholesale bank Concentra are dishing out an $80-million loan to cannabis company PharmHouse Inc., a joint venture part-owned by Canopy Rivers Inc., the investment arm of Canopy Growth Corp.

The bank loan is one of the largest provided to a private company in the cannabis industry by top-tier banks, most of which are still warming up to the industry, despite the legal status of recreational cannabis in Canada.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or BMO, CIBC provide $80-million loan to Canopy Growth-affiliated pot company PharmHouse Back to video

The loan will be used to finalize PharmHouse’s purchase of a 1.3-million-square-foot, all-glass greenhouse facility in Leamington, Ont., that the company expects will produce “a significant amount of cannabis within the Canopy Rivers ecosystem and beyond.”