TerrAscend Corp (CSE: TER) has seen the court approve a settlement agreement related to PharmHouse Inc. The settlement is related to an offtake agreement that was entered into by the firms Canadian subsidiary back in October 2018.
Under the terms of the original agreement, PharmHouse had agreed to sell TerrAscend 20% of all cannabis grown at its licensed facility in Leamington, Ontario and an arrangement that had mutual obligations. That contract has now been settled, with TerrAscend agreeing to make what it referred to as a one-time purchase of cannabis that was produced under the arrangement, for a set price per gram and a one time cash payment for full and final satisfaction of any claims related to the arrangement.
Despite issuing the news release on the matter, the payment for settlement and for the purchase of cannabis is said to be “immaterial” to TerrAscend.
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TerrAscend Corp last traded at $14.46 on the CSE.
Information for this briefing was found via Sedar and TerrAscend Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
