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TerrAscend Announces Closing of First Tranche of Proposed US$25 Million Non-Brokered Private Placement of Unsecured Convertible Debentures and Warrants
TerrAscend Announces Closing of First Tranche of Proposed US$25 Million Non-Brokered Priva...
About this update from Terrascend Corp.
[{"type":"text","content":"\n\n\n\nTerrAscend Announces Closing of First Tranche of Proposed US$25 Million Non-Brokered Private Placement of Unsecured Convertible Debentures and Warrants\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\nCanada NewsWire\nTORONTO, Oct. 2, 2019\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/\n--- Initial tranche includes US$10 million subscription from Canopy Rivers.\n TORONTO, Oct. 2, 2019 /CNW/ - TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (\"TerrAscend\" or \"the Company\"), the first and only global cannabis company licensed for sales in Canada, the US, and the EU, today announced the Company intends to complete non-brokered private placement offerings (the \"Offerings\") to raise approximately US$25 million through the issuance of units of each of TerrAscend (the \"Enterprise Offering\") and TerrAscend Canada Inc. (the \"Canadian Offering\"). Each unit in the Enterprise Offering is comprised of one unsecured convertible debenture of TerrAscend and 25.2 common share purchase warrants of TerrAscend. Each unit in the Canadian Offering is comprised of one unsecured convertible debenture of TerrAscend Canada Inc. and 25.2 common share purchase warrants of TerrAscend. The first tranche of the Canadian Offering, a US$10 million lead order from Canopy Rivers Inc. (\"Canopy Rivers\") (TSX: RIV, OTC: CNPOF), has been completed.\n\n \n \n\n \nThe Company intends to use the proceeds from the Enterprise Offering to fund TerrAscend's various growth initiatives, capital expenditures, working capital and general corporate purposes, provided that none of the proceeds of the Canadian Offering may be used in connection with any cannabis or cannabis-related operations in the US. \n\"We are privileged to have the continued confidence and support of Canopy Rivers, one of the preeminent investment firms specializing in cannabis,\" said Michael Nashat, CEO of TerrAscend. \"This growth capital enables TerrAscend to accelerate our organic and acquisition-driven investments in our key markets around the globe, as we...