Acreage Holdings Inc. said Friday it has secured financing that is non-dilutive to its planned equity deal with Canadian cannabis company Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC +4.88% /zigman2/quotes/202205609/delayed CA:WEED +5.20% . The company said it has secured a $100 million credit facility with a $50 million private loan partly provided by Chief Executive Kevin Murphy to act as cash collateral, and completed a private placement of $30 million in warrants. The company can draw down an initial $49 million of the credit facility, giving it immediate funds of about $79 million. The deals "significantly improve Acreage's financial position to continue to execute on its vision while establishing paths for further additional non-dilutive and shareholder-friendly financing transactions," the company said in a statement. Canopy, the market leader thanks to a $4 billion investment from drinks giant Constellation Brands Inc. /zigman2/quotes/207737284/composite STZ +0.78% , has a deal that will allow it to take over Acreage once cannabis restrictions in the U.S. have been eased. Acreage is a multi-state operator that is headquartered in New York City with operations in 20 states. MKM analyst Bill Kirk welcomed the news. "Given the language around future financing in the release, we believe Acreage will continue to have access to capital as needed," he wrote in a note. "Where many have struggled to find any form of capital, Acreage is secure." Acreage shares were down 7% after the news, and have fallen 75% in the last 12 months, while the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ +2.59% has fallen 55% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.58% has gained 23%.