Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) Announces Upsize of Revolving Credit … | News

CHICAGO, December 21, 2021 (GLOBE NEWSWIRE) – Chicago Atlantic Real Estate Finance, Inc. (“REFI” or “the Company”), a leading institutional lender to government licensed cannabis operators, announced today that Chicago Atlantic Lincoln, LLC (“Chicago Atlantic Lincoln”), its wholly owned financing subsidiary, has entered into an amended and amended loan and security agreement between Chicago Atlantic Lincoln and two FDIC-insured financial institutions in connection with a secured revolving credit facility (the “Revolving” Loans “).

The revolving loan has a total commitment of $ 45.0 million and matures December 16, 2023 with an option to extend for one year, subject to customary conditions.

The revolving loan bears a floating rate based on the Chicago Atlantic Lincoln leverage ratio, which is between 0% and 1.25% above the policy rate, subject to a lower limit of 3.25%. REFI expects to use the available loan base from the revolving loan to fund additional loans and for general corporate purposes.

About Chicago Atlantic Real Estate Finance, Inc.

Chicago Atlantic Real Estate Finance, Inc. is a commercial real estate finance company listed on NASDAQ under the symbol REFI that manages a diversified portfolio of cannabis real estate loan investments and actively invests across the value chain. The company’s senior management team has over 100 years of combined experience in real estate lending, direct lending, property acquisition and development, investment advice, risk management and advisory. The company’s website is available at https://investors.refi.reit/.

Forward-Looking Statements

This press release contains forward-looking statements and information regarding REFI that are based on management’s beliefs and beliefs and information currently available. These statements contain statements about the revolving loan, including the intended use of the proceeds from it, the expected reduction in interest expense, and the timing of the conclusion of the revolving loan. In this press release, words such as “may”, “will”, “should”, “could”, “intend”, “potentially”, “further”, “foresee”, “believe”, “estimate” are used. “Expect,” “plan,” “aim,” “predict,” “project,” “aim” and similar expressions relating to the company are intended to identify forward-looking statements. These statements reflect management’s current views with respect to future events, are not guarantees of future performance, and involve risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events that may not prove to be accurate. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements.

All forward-looking statements in this release are based on assumptions that the company currently believes to be appropriate. Unless required by law, the company assumes no obligation to update these forward-looking statements or to update the reasons if the actual results differ materially from those anticipated in the forward-looking statements.

Contact information:

Investor Relations

[email protected]

(312) 809-7002

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