TORONTO, March 14, 2023 /CNW/ – TerrAscend Corp. (“TerrAscend” or the “Company”) today announced that it has applied to list the Company’s common shares (the “Common Shares”) on the Toronto Stock Exchange (the “TSX”). In connection with the Company’s proposed listing on the TSX, and in order to qualify for the TSX’s minimum listing requirements, the Company expects to implement an internal reorganization (the “Reorganization”). The Reorganization will require approval from the Company’s shareholders. The listing of the Common Shares on the TSX remains subject to the review of the TSX and is contingent on the satisfaction of all listing and regulatory requirements. There is no assurance that the TSX will approve the listing application or that the Company will complete the Reorganization and the listing on the TSX as currently proposed.
While the United States regulatory environment continues to evolve, we are grateful for the leadership of the TSX, which provides issuers with sensible oversight and regulation in a complex sector to ensure investor protection and capital markets integrity. We look forward to the opportunity to list on the TSX in the near future.
Jason Wild, Executive Chairman of TerrAscend
Further details with respect to the Reorganization will be provided prior to the mailing of the proxy statement for the Company’s annual general meeting. In the meantime, the Common Shares will continue to trade on the Canadian Securities Exchange in Canada under the symbol “TER” and the OTCQX market in the United States under the symbol “TRSSF”. TerrAscend has engaged Cassels Brock & Blackwell LLP as the Company’s external legal and strategic advisor in connection with the Reorganization and the Company’s proposed listing on the TSX.
As previously announced, TerrAscend will host a scheduled conference call to discuss the results for its fourth quarter and full year periods ended December 31, 2022 on Thursday, March 16, 2023 at 5:00 p.m. Eastern Time. The Company will report its financial results for the fourth quarter and full year 2022 the same day after market close.
TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan and California and licensed production in Canada. TerrAscend operates The Apothecarium and Gage dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. TerrAscend’s cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The Company owns several synergistic businesses and brands including Gage Cannabis, The Apothecarium, Ilera Healthcare, Kind Tree, Legend, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information visit www.terrascend.com.