This Weed Company Has Just Become The First US MSO To Trade On Toronto Stock Exchange

TerrAscend Corp. TRSSF TSND commenced trading of its common shares on the Toronto Stock Exchange on July 4th, under the new ticker symbol "TSND."

No action is required by shareholders in order to continue trading their common shares as a result of the listing, or the change in ticker symbol, which was previously “TER” on the Canadian Securities Exchange.

“Today is an incredible day for TerrAscend and our stakeholders. We believe our TSX listing will provide the company greater access to a broader group of institutional and retail investors looking for attractive opportunities in the cannabis space. With all of the fundamental progress that we have made over the past twelve months, combined with this TSX listing, we believe we have achieved our goal of truly becoming independent of the need for regulatory reform. We would like to thank the TSX for their courageous leadership and we are honored to be listed on their exchange. Additionally, I want to thank every member of the TerrAscend team, along with Cassels, for their incredible efforts to get us to where we are today,” stated Jason Wild, executive chairman of TerrAscend.

Private Placements

In addition, TerrAscend closed its third and final tranche of private placements on June 30, 2023 bringing the total aggregate proceeds raised to approximately $21 million. The closing of the third tranche of the private placements consists of an aggregate of 216,666 units of the company at a price of $1.50 per unit for aggregate gross proceeds of $325,000 and total aggregate proceeds for all closings of approximately $10 million and 100 senior unsecured convertible debentures of the company at a price of $1,000 per debenture for aggregate gross proceeds of $100,000 and total aggregate proceeds for all closings of approximately $10 million.

Each unit is comprised of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of $1.95 per common share for a period of 24 months following the initial closing of the equity offering. Unless earlier repaid or converted, the outstanding principal and accrued and unpaid interest on the debentures will be due and payable 36 months following the applicable closing of the debenture offering. Each debenture will bear interest at a rate of 9.9% per annum from the date of issuance, calculated and compounded semi-annually, and payable on the maturity date.

Cassels Brock & Blackwell LLP acted as TerrAscend’s strategic and legal advisor in connection with the listing on the TSX.

Photo by Tim Foster on Unsplash .

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