Business
TerrAscend Announces Closing of Previously Announced Transactions with The Apothecarium in California
TerrAscend Announces Closing of Previously Announced Transactions with The Apothecarium in...
About this update from Terrascend Corp.
[{"type":"text","content":"\n\n\n\nTerrAscend Announces Closing of Previously Announced Transactions with The Apothecarium in California\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, June 6, 2019\n\n\n\n--- Establishes the Company's retail footprint in the US with the integration of The Apothecarium's operations (including all employees)\n--- Transactions include three San Francisco dispensaries, two additional retail locations, and Valhalla Confections\n--- New locations in Berkeley, California and Phillipsburg, New Jersey expected to open in the fourth quarter of 2019\n TORONTO, June 6, 2019 /CNW/ - TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (\"TerrAscend\" or the \"Company\") has closed a series of transactions to acquire the California operations of the award-winning retail dispensary brand known as \"The Apothecarium\" for consideration comprised of US$36.8 million in cash and proportionate voting shares in the equity of TerrAscend equivalent to 6.7mm common shares of the Company. The transactions include three entities operating the San Francisco locations of The Apothecarium, two additional retail locations, and Valhalla Confections, a leading provider of premium edible products. The Company plans to close the full acquisition of the Apothecarium's California entities as well as the acquisition of The Apothecarium's Nevada entities following receipt of final regulatory approvals, which are expected in the second or third quarter of 2019.  The Company initially announced the transaction in a press release dated February 11, 2019.\n\n \n \n\n \n\"The Apothecarium is the model for operational excellence and represents a key element in our strategy to become the leading North American Operator in the cannabis sector,\" said Matthew Johnson, President of TerrAscend Corp., and TerrAscend USA, Inc. \"Ryan Hudson and the rest of The Apothecarium team share our relentless commitment to integrity, quality, and trust in every aspect of the business. Together we will bring The Apothecarium to more...