Business
TerrAscend Expands U.S. Footprint Via Acquisition of Maryland Based Grower Processor
TerrAscend Expands U.S. Footprint Via Acquisition of Maryland Based Grower Processor ...
About this update from Curaleaf Holdings, Inc.
[{"type":"text","content":"\n \n \n \n TerrAscend Expands U.S. Footprint Via Acquisition of Maryland Based Grower Processor\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n NEW YORK and TORONTO, Nov. 6, 2020\n \n \n \n \n \n -- Accretive Deal Paves the Way for Entry into Attractive Limited License State\n \n \n \n \n -- Significant Opportunity to Expand Capacity of the Asset in 2021\n \n \n \n \n \n NEW YORK\n \n and\n \n TORONTO\n \n ,\n \n Nov. 6, 2020\n \n /CNW/ - TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (CSE:TER,) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the signing of a definitive agreement to acquire HMS Health, LLC and HMS Processing, LLC (collectively \"HMS\") from Curaleaf Holdings, Inc (\"Curaleaf\") (CSE: CURA) (OTCQX: CURLF). HMS is a cultivator and processor of medical cannabis products in the state of\n \n Maryland\n \n . The acquisition is expected to be immediately accretive to TerrAscend on an EBITDA basis.\n \n \n HMS currently operates a 22,000 square foot cultivation and processing facility in\n \n Frederick, Maryland\n \n . Today, HMS produces dried flower and oil products for the medical cannabis market and has the capability to produce edibles upon regulatory approval. TerrAscend plans to significantly expand this existing capacity in the coming year.  The majority of HMS' employees are expected to join TerrAscend's US operations.\n \n \n \"This acquisition enables TerrAscend to expand its footprint into another robust limited license medical cannabis market with strong, long-term growth potential,\" said\n \n Jason Ackerman\n \n , Executive Chairman and Chief Executive Officer of TerrAscend. \"By combining HMS with our industry leading scaled operations in the adjacent states of\n \n Pennsylvania\n \n and\n \n New Jersey\n \n , we will leverage our strong management team and corporate support functions to drive economies of scale.  We will also standardize cultivation practices, brand portfolio, and formulations to provide patients in\n \n Maryland\n ...