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About First Calgary Financial

First Calgary Financial provides its members to achieve financial aspirations through local brands. It is based in Calgary, Alberta.

First Calgary Financial Headquarter Location

116-3177 7 Avenue SW

Calgary, Alberta, T2P 2Y9,


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Latest First Calgary Financial News

Delta 9 Grabs $32M in Debt Financing

Feb 2, 2022

Delta 9 Cannabis Inc. on Tuesday (Feb. 1) entered into a $32 million debt-financing partnership with connectFirst Credit Union Ltd. , with the money coming through First Calgary Financial. “With this debt financing, Delta 9 has added financial flexibility to optimize its capital structure and is well positioned to continue to execute its growth strategy,” said John Arbuthnot , CEO of Delta 9, in the joint announcement . “This transaction reflects the strong financial and operating results, which Delta 9 and its team have been able to produce in the wake of cannabis legalization in Canada, and confidence from our new senior lender, connectFirst,” he said. “To our knowledge, this interest rate is among the most competitive rates established by any public cannabis company to date.” The agreement includes a $23 million commercial mortgage facility, a $5 million acquisition facility and a $4 million authorized overdraft. The commercial mortgage portion matures after five years and amortizes over a 12-year term. It includes $11.2 million for the repayment of existing long-term debt and $11.8 million for the repayment of the Delta 9’s 8.5% unsecured convertible debentures due July 17. The plan includes interest rates at a 5-year fixed rate of 4.55% per year for the commercial mortgage portion of the loan and connectFirst prime + 1.50% per year for the authorized overdraft. The plan gives Delta 9 about $1.2 million in additional operating capital and an extra $470,000 in annualized principal repayment reductions. That money will be used to grow the business and for general working capital needs. Delta 9 would also have access to up to $5 million in capital for future acquisitions. “We’re very excited about the new partnership between Delta 9 and connectFirst. Delta 9 is one of Canada’s most established and recognizable cannabis brands, and our senior debt offering will provide capital to continue their growth trajectory,” said Craig Zaychkowsky , assistant vice president of corporate and commercial banking at connectFirst, in the joint announcement. “This debt offering allows connectFirst to continue to prove that we have our members’ backs as we offer the financial tools, passion and expertise for a brighter future,” he said.

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