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]. Group 1: Transaction Details - The acquisition of Union Chill was finalized for a total consideration of $13 million, which includes $9 million in convertible notes at an interest rate of 6.5% for a 35% purchase option and $4 million in cash upon exercising the option [3]. - This transaction aligns with New Jersey's regulatory framework, promoting investment in diversely owned businesses [3]. Group 2: Financial Impact - The Union Chill dispensary is generating over $11 million in annualized revenue, which is anticipated to enhance TerrAscend's financial performance [2][4]. - The integration of Union Chill is expected to drive increased sales, margins, and long-term value for the company [4]. Group 3: Company Overview - TerrAscend Corp. is a leading cannabis company listed on the TSX, with operations across several U.S. states and Canada, including Pennsylvania, New Jersey, Maryland, Ohio, and California [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].