TerrAscend completes sale of facility in Canada for $19M
by CM staff
Net proceeds will be used to pay down existing company debt.
TORONTO — TerrAscend a North American cannabis operator has completed the sale of its facility located in Mississauga, Canada for CAD$19.7 million. Net proceeds will be used to pay down existing company debt.
“I am pleased we were able to complete the sale of this facility at an attractive price. This latest debt paydown adds to the substantial progress we have made over the last three quarters in strengthening our balance sheet by reducing our debt and interest expense. The continued improvement of our balance sheet remains a priority. We plan to pay down additional debt in the coming months,” said Jason Wild, Executive Chairman, TerrAscend.
The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
