TerrAscend Closes on US$33.5 Million Private Placement

TerrAscend (CSE:TER) completed an upsized non-brokered private placement of approximately US$33.5 million, including of the first tranche of the private placement that closed on December 30, 2019.

As quoted in the press release:

Chairman Jason Wild, Executive Chairman Jason Ackerman, and each of the Company’s additional directors participated in the Private Placement.

On January 10, 2019, the Company closed the second tranche of the Private Placement, issuing 3,450,127 units (each, a “Unit”) at an issue price of CAD$2.45 per Unit resulting in proceeds to the Company of CAD$8,452,811.  Each Unit consists of one common share in the capital of the Company (the “Common Shares”) and one Common Share purchase warrant (a “Warrant”).  Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) prior to January 14, 2022 at an exercise price of CAD$3.25 per Warrant Share.

Click here to read the full press release.