CapStone Holdings Invests $25M In TerrAscend's Ilera Healthcare Division

Ilera Healthcare, a division of a vertically-integrated cannabis company TerrAscend Corp. TRSSF, will obtain a $25 million investment from CapStone Holdings.

TerrAscend recently announced it has secured $120 million in financing via a senior secured term loan with a syndicate of lenders. The loan was secured by Ilera Healthcare, which TerrAscend purchased in 2019 for a total consideration of $125 million to $225 million.

CapStone is one of a group of investors in a $120 million loan facility to enable TerrAscend to complete the final Ilera Healthcare earn-out payments, in relation with TerrAscend's acquisition of Ilera Healthcare.

After TerrAscend’s acquisition of Ilera, Pennsylvania's medical marijuana cultivator, processor and dispense continued to open new dispensaries and to work on advancing its sales.

"This is CapStone's second investment in a medical marijuana enterprise, an industry now valued at more than $16 billion. As with our other investment within this industry, CapStone recognizes Ilera's important role in improving the quality of people's lives," Heather Stone of CapStone Holdings said in a statement.

CapStone Holdings Chairman & Founder Keith J. Stone praised the leadership team of both Ilera and TerrAscend. "Ilera's and TerrAscend's executive management team is comprised of business leaders with decades of global management and finance experience in a variety of industry sectors," Stone stated. "These best-in-class operating teams are well-positioned for sustained increases in production and revenue."

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Posted In: CannabisNewsMarketscannabis industrycannabis salescapstone holdings invests in TerrAscend's Ilera Healthcare divisionlegal marijuanamarijuanamarijuana stocksterrascend $120 million loanterrascend's ilera secures $25 million investment
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