TerrAscend Announces Closing on Upsized US$33.5 Million Non-Brokered Private Placement

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TORONTO,
Jan.
13,
2020
/CNW/


TerrAscend
Corp.

(CSE:TER;)
(“TerrAscend”
or
the
“Company”)
has
completed
its
previously
announced
upsized
non-brokered
private
placement
(the
“Private
Placement”)
with
orders
totaling
an
aggregate
amount
of
approximately
US$33.5
million,
inclusive
of
the
first
tranche
of
the
Private
Placement
which
closed
on
December
30,
2019.
Chairman
Jason
Wild,
Executive
Chairman
Jason
Ackerman,
and
each
of
the
Company’s
additional
directors
participated
in
the
Private
Placement.

On
January
10,
2019,
the
Company
closed
the
second
tranche
of
the
Private
Placement,
issuing
3,450,127
units
(each,
a
“Unit”)
at
an
issue
price
of
CAD$2.45
per
Unit
resulting
in
proceeds
to
the
Company
of
CAD$8,452,811.
Each
Unit
consists
of
one
common
share
in
the
capital
of
the
Company
(the
“Common
Shares”)
and
one
Common
Share
purchase
warrant
(a
“Warrant”).
Each
Warrant
will
be
exercisable
to
acquire
one
Common
Share
(a
“Warrant
Share”)
prior
to
January
14,
2022
at
an
exercise
price
of
CAD$3.25
per
Warrant
Share.

As
noted
previously,
the
Company
intends
to
use
the
proceeds
from
the
Private
Placement
to
accelerate
the
completion
of
the
New
Jersey
cultivation
and
processing
facilities,
to
satisfy
the
previously
announced
January
2020
contingent
purchase
price
payment
related
to
the
acquisition
of
Ilera
Healthcare,
and
for
working
capital
and
general
corporate
purposes.

For
further
details
concerning
the
Private
Placement,
please
refer
to
the
Company’s
news
release
dated
December
30,
2019.

The
securities
to
be
issued
pursuant
to
the
private
placement
have
not
been
and
will
not
be
registered
under
the
U.S.
Securities
Act
of
1933,
as
amended
(the
“1933
Act”),
or
under
any
state
securities
laws,
and
may
not
be
offered
or
sold,
directly
or
indirectly,
or
delivered
within
the
United
States
absent
registration
or
an
applicable
exemption
from
the
registration
requirements.
This
news
release
does
not
constitute
an
offer
to
sell
or
a
solicitation
to
buy
such
securities
in
the
United
States.


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.


About
TerrAscend

TerrAscend
provides
quality
products,
brands,
and
services
to
the
global
cannabinoid
market.
As
the
first
North
American
Operator
(NAO),
with
scale
operations
in
both
Canada
and
the
US,
the
Company
participates
in
the
medical
and
legal
adult
use
market
across
Canada
and
in
several
US
states
where
cannabis
has
been
legalized
for
therapeutic
or
adult
use.
TerrAscend
is
the
first
and
only
cannabis
company
with
sales
in
the
US,
Canada,
and
Europe.
TerrAscend
operates
a
number
of
synergistic
businesses,
including
The
Apothecarium,
an
award-winning
cannabis
dispensary
with
several
retail
locations
in
California
and
Nevada;
Arise
Bioscience
Inc.,
a
manufacturer
and
distributor
of
hemp-derived
products;
Ilera
Healthcare
LLC,
Pennsylvania’s
premier
medical
marijuana
cultivator,
processor
and
dispenser;
Ascendant
Laboratories
Inc.,
a
biotechnology
and
licensing
company
committed
to
the
continuous
improvement
of
cannabinoid
expressing
plants;
Solace
RX
Inc.,
a
proposed
Drug
Preparation
Premises
(DPP)
focused
on
the
development
of
novel
formulations
and
delivery
forms;
and
Valhalla
Confections,
a
manufacturer
of
premium
cannabis-infused
edibles.
Additionally,
TerrAscend
has
been
chosen
by
the
State
of
New
Jersey
to
be
one
of
six
permit
applicants
for
a
vertically
integrated
medical
cannabis
operation.
For
more
information,
visit

www.terrascend.com
.


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Press
Release

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