EXCLUSIVE: Why TerrAscend's Success Doesn't Rely On Federal Cannabis Reform
Portfolio Pulse from Jelena Martinovic
TerrAscend Corp. (OTCQX:TRSSF) has raised $21 million through two funding rounds and listed on the Toronto Stock Exchange, becoming the first American cannabis multistate operator to trade on the TSX. The company underwent an internal reorganization to reach this milestone, including paying out $30 million of its Michigan debt and Canopy Growth Corp. (NASDAQ:CGC) advertising their $90 million loan to TerrAscend. These moves have allowed TerrAscend to expand its national footprint, including acquisitions in Maryland and potential expansion in New Jersey and Pennsylvania.
September 28, 2023 | 8:07 pm
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POSITIVE IMPACT
TerrAscend has successfully raised funds, listed on the TSX, and restructured its operations, which has allowed for expansion and improved financial stability.
TerrAscend's successful fundraising, listing on the TSX, and internal reorganization have improved its financial stability and allowed for expansion, which could potentially increase its market share and revenues, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Canopy Growth Corp. has advertised a $90 million loan to TerrAscend, which has helped improve TerrAscend's balance sheet.
Canopy Growth Corp.'s loan to TerrAscend has helped improve TerrAscend's financial situation, but it's unclear how this will directly impact Canopy Growth Corp.'s stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50