TerrAscend Announces Proposed US$20-30 million Non-Brokered Private Placement

Published: April 25, 2019

TerrAscend Corp. announced that the Company intends to complete a non-brokered private placement to raise approximately US$20 million – US$30 million through the issuance of approximately 3.5 million to 5.2 million common shares in the capital of the Company at an issue price of US$5.73 per Common Share.

The Company has received an indicative lead order from funds advised by JW Asset Management, LLC (“JW”) for a minimum investment of US$10,000,000. Prior to giving effect to the Private Placement, JW directly or indirectly owns or controls approximately 35,021,529 Common Shares (as-converted from proportionate voting shares), representing approximately 30% of the issued and outstanding Common Shares on a non-diluted, fully-converted basis.