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TerrAscend Accelerates Michigan Retail Expansion Through Acquisition of Pinnacle
TerrAscend Accelerates Michigan Retail Expansion Through Acquisition of Pinnacle ...
About this update from Terrascend Corp.
[{"type":"text","content":"\n \n \n \n TerrAscend Accelerates Michigan Retail Expansion Through Acquisition of Pinnacle\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 \n \n \n Adds 5 operational dispensaries, expanding TerrAscend's retail footprint to 17 in\n \n Michigan\n \n and 32 nationwide\n \n \n \n \n Immediately accretive to TerrAscend on both a Sales and EBITDA basis\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 14, 2022\n \n \n /CNW/ - TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it has entered into a definitive agreement to acquire KISA Enterprises MI, LLC and KISA Holdings, LLC (\"Pinnacle\"), a dispensary operator in\n \n Michigan\n \n , and related real estate, for total consideration of\n \n US$28.5 million\n \n (the \"Transaction\"). The Transaction is expected to be immediately accretive to TerrAscend on both a Sales and EBITDA basis.\n \n \n The Transaction includes six retail dispensary licenses, five of which are currently operational and located in the cities of\n \n Addison\n \n ,\n \n Buchanan\n \n ,\n \n Camden\n \n ,\n \n Edmore\n \n , and\n \n Morenci\n \n . TerrAscend intends to rebrand each of the dispensaries under either the Gage or Cookies retail brand, depending on location. All of the dispensaries will carry the entire family of Cookies and Gage branded products including, but not limited to the Cookies, Lemonnade, Runtz, PowerzzzUp, Minntz and Grandiflora lines. The Transaction expedites TerrAscend's expansion into parts of\n \n Michigan\n \n that currently have limited access to Gage and Cookies branded retail locations. Following the close of the Transaction, TerrAscend's retail footprint will increase to 17 dispensaries in\n \n Michigan\n \n and 32 dispensaries nationwide.\n \n \n \"We are excited to begin working with the Pinnacle team and can't wait to roll out our high-quality Gage and Cookies branded products at these dispensaries,\" said\n \n Jason Wild\n \n , Executive Chairman of TerrA...