Saturday, July 5, 2025

Latest

TerrAscend Takes 12.5% More Equity On New Jersey License For $50 Million

TerrAscend Corp. (CSE: TER) announced today that it has completed the acquisition of an additional 12.5% equity on New Jersey-licensed operator, TerrAscend NJ. The transaction is reported to be for total consideration of $50 million.

The acquisition involved an initial cash payment of $25 million and an additional $25 million payment in cash and shares payable on or before December 31, 2021. TerrAscend will be purchasing the additional equity from BWH NJ and Blue Marble Ventures.

“I am thrilled to increase our stake in TerrAscend New Jersey ahead of the commencement of adult-use sales,” said TerrAscend Executive Chairman Jason Wild.

Following the acquisition, the company now owns 87.5% of the issued and outstanding shares of the New Jersey operator. The sellers also agreed to give the company the option to purchase an additional 6.25% equity between April 1 and June 15, 2023.

Earlier this year, the North American cannabis operator completed its expansion project in New Jersey, bringing its total facility footprint in the state to 140,000 square feet. TerrAscend NJ has a permit to operate up to three alternative treatment centers; the first two have been up and running in the towns of Maplewood and Philipsburg while it expects to open the third one in Lodi before the year ends.

The company reported US$58.7 million in revenue and US$23.1 million in net loss for Q2 2021.

TerrAscend last traded at $9.43 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 unless otherwise mentioned. 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

Torex Gold Acquires Reyna Silver For CASH!

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Stifel Reinitiates Coverage On Eight Cannabis Operators

Earlier this week, Stifel released a new report on cannabis operations, focused predominantly on US-based...

Friday, July 24, 2020, 03:30:00 PM

US Cannabis: Stifel Expects “Limited To No Sales Growth”

Earlier this month, Stifel-GMP came out with their US cannabis second quarter preview, calling the...

Monday, August 1, 2022, 01:17:00 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

Scotts Miracle-Gro Subsidiary Sues TerrAscend’s Jason Wild For Violating Federal Law

The Scotts Miracle-Gro Company (NYSE: SMG) subsidiary Hawthorne has sued cannabis operator TerrAscend Corp (CSE:...

Wednesday, February 8, 2023, 02:16:00 PM

TerrAscend: Analyst Consensus Estimates For Q3 2021

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

Monday, November 15, 2021, 02:17:00 PM