Establishes Leading Presence in Michigan , the Third Largest U.S. Cannabis Market
Combines Industry Leading Retail, Cultivation and Operations Teams Across 7 Cultivation Facilities and 23 Operational Retail Locations in 5 States
The Gage Brand, One of the Most Influential and Innovative in Michigan , to Be Featured Across TerrAscend’s Current and Future Markets
NEW YORK , DETROIT and TORONTO , Sept. 1, 2021 /CNW/ – TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis multi-state operator, and Gage Growth Corp. (“Gage”) (CSE: GAGE), a leading high-quality premium cannabis brand and operator, today announced that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which TerrAscend will acquire all of the issued and outstanding subordinate voting shares (the “Gage Shares”) of Gage by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the “Transaction”). All references to dollar values refer to US dollars unless otherwise noted.
Under the terms of the Arrangement Agreement, shareholders of Gage (the “Gage Shareholders”) will receive 0.3001 of a common share of TerrAscend for each Gage Share (or equivalent) held (the “Exchange Ratio”), representing a total consideration of approximately $545 million 1 based on the closing price of TerrAscend on August 31, 2021 . The Exchange Ratio implies a consideration of $2.11 (or C$2.66 )...
Read Full Story: https://investingnews.com/daily/cannabis-investing/terrascend-to-acquire-gage-cannabis/
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