Loans Payable

3 Months Ended

Mar. 31, 2022

Loans payable


	Canopy Growth (formerly RIV Capital) Loan			Canopy Growth- Canada Inc Loan			Other Loans			Canopy Growth- Arise Loan		Ilera Term Loan			KCR Loan			Gage loans			Total
Balance at December 31, 2021	$	8,680		$	42,165		$	7,915		$	8,900	$	115,233		$	2,250		$	-		$	185,143
Addition on acquisition		—			—			—			—		—			—			60,105			60,105
Interest accretion		328			1,362			235			343		4,210			56			568			7,102
Principal and interest paid		(624	)		(3,837	)		—			—		(3,810	)		—			—			(8,271	)
Effects of movements in foreign exchange		119			540			(72	)		—		—			—			—			587
Ending carrying amount at March 31, 2022	$	8,503		$	40,230		$	8,078		$	9,243	$	115,633		$	2,306		$	60,673		$	244,666
Less: current portion		(160	)		(227	)		(2,847	)		-		(42	)		(2,306	)		(54,526	)		(60,108	)
Non-current loans payable	$	8,343		$	40,003		$	5,231		$	9,243	$	115,591		$	-		$	6,147		$	184,558

Total interest paid on all loan payables was $8,271 and $9,140 for the three months ended March 31, 2022 and 2021, respectively.

Gage loan

The Gage Acquisition (refer to Note 4) included a senior secured term loan with an acquisition date fair value of $53.4 million. The Credit Agreement bears interest at a rate equal to the greater of the Prime Rate plus 7% or 10.25%. The term loan is payable monthly and matures on November 30, 2022. The term loan is secured by a first lien on all Gage assets.

Additionally, the Gage Acquisition included a loan payable to a former owner of a licensed entity with an acquisition date fair value of $2.7 million, and a Promissory Note with an acquisition date fair value of $4.0 million. The loan payable to the former owner bears interest at a rate of 0.2%. The Promissory Note bears interest at a fixed rate of 6%.

Maturities of loans payable

Stated maturities of loans payable over the next five years are as follows:


	March 31, 2022
2022	$	59,490
2023		5,802
2024		130,598
2025		—
2026		—
Thereafter		84,442
Total principal payments	$	280,332