TerrAscend Increases Retail Footprint in New Jersey with Closing of Union Chill Dispensary Transaction

Core Viewpoint - TerrAscend Corp. has expanded its retail presence in New Jersey by acquiring Union Chill Cannabis Company, enhancing its leadership position in the state and expected to contribute positively to EBITDA and cash flow immediately [2][4]. Financial Summary - The acquisition of Union Chill is valued at $13 million, comprising $9 million in convertible notes at 6.5% interest for a 35% purchase option and $4 million in cash upon exercising the option [3]. - Union Chill is generating over $11 million in annualized revenue, which will strengthen TerrAscend's financial performance [4]. Strategic Positioning - The new dispensary in Hunterdon County is strategically located with limited competition within a 10-mile radius, which is expected to enhance sales and margins for TerrAscend [4]. - Following the acquisition, TerrAscend's retail footprint will increase to four dispensaries in New Jersey and a total of 20 dispensaries across five U.S. states and Canada [3]. Company Overview - TerrAscend Corp. is a leading cannabis company listed on the TSX, with operations in multiple states including Pennsylvania, New Jersey, Maryland, Ohio, and California, as well as retail operations in Canada [5]. - The company operates various dispensaries and has a portfolio of brands, including The Apothecarium and Cookies, focusing on high-quality cannabis products for both medical and adult-use markets [5].