Closing on track to occur before the start of Maryland’s adult use program on July 1st
As a $14M revenue run rate medical dispensary, this 8,500 square foot location near the border of Delaware, with no other dispensaries within a 25 mile radius, is expected to quickly become one of TerrAscend’s top performing locations nationwide
US$22 million transaction, including minimal US$1.5 million cash component, to be immediately accretive on an EBITDA and cashflow basis
TORONTO, June 19, 2023 (GLOBE NEWSWIRE) — TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced it has received regulatory approval from the Maryland Cannabis Administration (MCA) for the acquisition previously announced on June 8, 2023, of Derby 1, LLC (d/b/a “Peninsula Alternative Health”), a medical dispensary in Maryland. The transaction will add a second dispensary to the Company’s Maryland footprint in advance of adult-use sales, which will begin on July 1, 2023. The acquisition is expected to close shortly.
“We are thrilled to receive regulatory approval for this acquisition just 10 days after signing the definitive agreements,” said Jason Wild, Executive Chairman of TerrAscend. “The timing could not be better as this approval positions TerrAscend