TerrAscend Sells Facility For $14.5M To Pay Down Debt
Portfolio Pulse from Vuk Zdinjak
TerrAscend Corp. has sold its facility in Mississauga, Canada for $14.5 million, with net proceeds to be used for paying down existing company debt. TerrAscend is a North American cannabis operator with vertically integrated operations in multiple states and retail operations in Canada.
May 24, 2023 | 2:35 pm
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TerrAscend Corp. has sold its Mississauga facility for $14.5 million to pay down existing debt, improving its balance sheet.
The sale of the facility will help TerrAscend pay down its existing debt, which will improve its balance sheet and financial position. This is likely to have a positive impact on the company's stock price in the short term, as investors may view the debt reduction as a sign of financial stability and prudent management.
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