TerrAscend Receives Key Michigan Pre-Qualification Approval Ahead of Gage Cannabis Acquisition

TerrAscend Corp (CSE: TER) is one step closer to acquire Gage Growth Corp (CSE: GAGE). The firm this morning indicated that it has received a key approval from the State of Michigan in proceeding with the transaction.

The company has been granted pre-qualification approval by the Marijuana Regulatory Agency under the Medical Marihuana Facilities Licensing Act. The pre-qualification applies to cultivation, processing and retail licenses, and is the most comprehensive aspect of the licensing framework within the state.

With the pre-qualification received, the company is now one step closer to close its acquisition of Gage, with this key closing condition now met. The firm is now able to proceed with receiving shareholder approvals, along with court and other regulatory approvals as part of the process.

The acquisition of Gage Growth Corp by TerrAscend was originally announced at the start of the month, with the deal being pegged at US$545 million. Taking the form of an all stock deal, the arrangement will bring TerrAscend’s total footprint to five US states as well as Canada.

Video originally published September 7, 2021.

A timeline for closing has been pegged as the first half of 2022.

TerrAscend last traded at $9.21 on the CSE.


Information for this briefing was found via Sedar and the companies mentioned. 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.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

TerrAscend: Analysts Expect $57.4 Million In First Quarter Revenues

TerrAscend Corp (CSE: TER) announced that they will be reporting their first quarter financials before...

Tuesday, May 18, 2021, 02:43:00 PM

TerrAscend Sees Board Push Out CEO Jason Ackerman

TerrAScend Corp (CSE: TER) has seen its board of directors cut Jason Ackerman from the...

Tuesday, March 23, 2021, 07:39:29 AM

Gage Growth: Focused On Brand Building In Michigan – The Daily Dive

For our final episode of the Daily Dive this week, our host Cassandra Leah sits...

Friday, June 25, 2021, 01:30:00 PM

Gage Cannabis Expected To IPO On CSE In Early April

Gage Cannabis has reportedly filed for a direct listing in Canada. Reported this morning by...

Wednesday, March 24, 2021, 01:21:15 PM

TerrAscend Hits US$49.7 Million In Revenue, US$16.0 Million Net Loss In Q1 2022

TerrAscend Corp. (CSE: TER) reported late Thursday its Q1 2022 financial results, which saw the...

Friday, May 13, 2022, 10:14:00 AM