Core Insights - TerrAscend Corp. has decided to exit the Michigan market as part of a strategic review, selling all Michigan assets including cultivation and processing facilities, retail dispensaries, and real estate [1][2][3] - The net proceeds from these divestitures will be utilized to pay down existing company debt, enhancing the financial profile of TerrAscend [1][2] - The exit from Michigan is expected to be substantially completed in the second half of 2025, with the Michigan operations reported as discontinued starting from Q2 2025 [1][2] Financial Impact - Following the Michigan exit, TerrAscend will operate 19 dispensaries and 4 cultivation and processing facilities across five states, which is anticipated to improve key financial metrics such as gross margin, adjusted EBITDA, and cash flow conversion [2][3] - The company expects a reduction of approximately 21% of its overall workforce, which consists of about 1,200 employees, primarily by the end of Q3 2025 [3] Strategic Focus - The strategic decision to exit Michigan is aimed at reallocating resources to core markets in the northeastern U.S., specifically New Jersey, Maryland, Pennsylvania, and Ohio, to unlock value for the company and its shareholders [3] - The company believes that concentrating efforts in these core markets will lead to stronger financial performance, improved margins, and operational efficiencies [3] Company Overview - TerrAscend is a leading cannabis company listed on the TSX, with operations across North America, including vertically integrated operations in several states and retail operations in Canada [4] - The company operates various dispensary brands and has a portfolio of synergistic businesses and brands, providing a wide selection of cannabis products for both medical and adult-use markets [4]

Core Viewpoint - EMX Royalty Corporation has announced the sale of its Nordic operational platform to First Nordic Metals Corporation, which is expected to streamline operations and reduce costs while maintaining royalty exposure in the region [1][2]. Strategic Rationale and Long-Term Benefits - The transaction aims to streamline EMX's global operations and reduce administrative costs while retaining upside royalty exposure from partner-funded exploration efforts [2]. - EMX has over 15 years of generative exploration experience in the Nordic countries and will retain a broad portfolio of royalties in the region [2]. - Future royalty interests will be granted to EMX on projects generated by FNM for five years, aligning with EMX's strategic objectives [2]. Commercial Terms - EMX will receive staged payments totaling 3.25 million SEK (approximately US$335,000) over two years, with payments made in equal parts of cash and shares of FNM [3]. - EMX will also receive a 1% net smelter return (NSR) royalty on any new projects generated in Sweden and Finland over the next five years [3]. Company Background - EMX is a precious and base metals royalty company, providing investors with discovery, development, and commodity price optionality while limiting exposure to operational risks [5]. - First Nordic Metals Corp. is a Canadian-based gold exploration company with assets in Sweden and Finland, including the Barsele gold project and the Oijärvi greenstone belt [6].