09:04 AM EDT, 08/14/2025 (MT Newswires) -- Cannabis producer Cannara Biotech ( LOVFF ) said Thursday that it raised $5.5 million after completing the sale of a non-core building under construction and a related parcel of land located at its Valleyfield site in Quebec.

The company will use the funds to reduce the principal balance of its existing term loan, effectively decreasing its long-term debt.

"This transaction reflects our disciplined execution of Cannara's long-term strategy to unlock value from underutilized assets while preserving financial flexibility," said Zohar Krivorot, president and CEO of Cannara.

"By streamlining our real estate footprint, we are not only strengthening our balance sheet but also sharpening our focus on scalable, profitable growth within our core cannabis operations," Krivorot added.