TerrAscend Secures $20.5M Via Second Tranche Of Private Placements
Portfolio Pulse from Vuk Zdinjak
TerrAscend Corp. has closed the second tranche of private placements, securing total aggregate proceeds of $20.5 million. The funds will be used to qualify for the company’s proposed TSX listing, fund Maryland dispensary acquisitions, and for working capital and general corporate purposes. TerrAscend now holds approximately 99.8% of the economic ownership of TerrAscend Growth, and 95% of Cookies Retail Canada Corp.
June 28, 2023 | 2:51 pm
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POSITIVE IMPACT
TerrAscend Corp. has secured $20.5 million through the second tranche of private placements. This could potentially strengthen the company's financial position and support its growth initiatives.
The secured funding of $20.5 million will be used for various purposes including qualifying for the company’s proposed TSX listing, funding Maryland dispensary acquisitions, and for working capital and general corporate purposes. This could potentially strengthen the company's financial position and support its growth initiatives, which could have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100