TerrAscend Corp. has completed its previously announced upsized non-brokered private placement with orders totaling approximately $69 million.
The company issued 9,026,034 common shares in the Private Placement at the previously announced price of $7.64.
All members of the company’s leadership team participated in the offering, including a US$18.4 million lead order from funds advised by JW Asset Management, LLC and affiliated entities.
As noted previously, TerrAscend intends to use the proceeds from the Private Placement to fund its United States acquisition strategy, working capital and general corporate purposes.
TerrAscend will soon be the first and only cannabis company with sales in the US, Canada, and Europe as it has received EU GMP certification for its manufacturing facility in Mississauga, Ontario. Cannabis Business Worldwide