Arizona-based marijuana vaporizer company Tilt Holdings entered a debt and security agreement that extends its credit line with Smoore Technology effective Jan. 28.
Under the agreement, according to a news release, Smoore will sell and ship CCell vape hardware products on credit to Tilt’s subsidiary, Jupiter Research.
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Jupiter will guarantee the payment of any amount owed to Smoore in excess of the amounts for which Smoore receives through insurance for any unpaid invoices that are older than 120 days.
The insurance will be provided by Sinosure, a Chinese export and credit insurance corporation.
The guarantee allows Tilt to increase and secure its credit line to support customer demand.
Smoore will have a first lien security interest in Tilt’s assets.
Tilt also agreed
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