TerrAscend expands footprint despite Q3 losses, can A move to Ohio turn the tide?

Acquisition represents the Company’s initial entry into its sixth state; Intends to be a leader in Ohio through additional acquisitionsExpected to be immediately accretive on an EBITDA and cashflow basisTORONTO, Nov. 06, 2024 (GLOBE NEWSWIRE) -- TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND, OTCQX: TSNDF), a leading North American cannabis company, today announced the signing of a definitive agreement to acquire the assets of Ratio Cannabis LLC (“Ratio Cannabis”), a well situated dispensary in Goshen Township, Ohio. Upon closing, this acquisition will be TerrAscend’s initial entry into Ohio, the Company’s sixth state. Upon closing, total consideration to the sellers of $10.3 million will be comprised of $5.0 million in cash, $1.32 million in Company common shares and a seller’s note for $3.98 million bearing 6% interest with a two-year maturity. The transaction, which is expected to be immediately accretive on an EBITDA and cashflow basis, and is subject to customary closing conditions, including regulatory approval from the Ohio Division of Cannabis Control (the “Division”).“Entering Ohio and expansion in the Midwest has long been a priority for us

TerrAscend secures $26M in cannabis financing, totaling $140M. Learn how this impacts debt restructuring, interest rates, and company growth. Discover the implications for investors and the cannabis industry.