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TerrAscend Announces Renewal and Replenishment of $10 Million Share Repurchase Program
TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) -- TerrAscend Corp. ("TerrAscend" or the "Company") (TS...
About this update from Terrascend Corp.
[{"type":"text","content":"TerrAscend Announces Renewal and Replenishment of $10 Million Share Repurchase Program\n\n\n\n TORONTO, Aug. 20, 2025 (GLOBE NEWSWIRE) --\n \n TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (TSX: TSND) (OTCQX: TSNDF)\n \n , a leading North American cannabis company, today announced that its Board of Directors has authorized the Company to renew and replenish its normal course issuer bid (“NCIB”) to repurchase up to USD $10 million of the Company’s common shares (“Shares”), from time to time over a 12-month period.\n \n\n Jason Wild, Executive Chairman of TerrAscend, stated, “We believe our shares represent compelling value at current levels, especially in the context of recent federal regulatory momentum. This program provides us with the flexibility to allocate capital opportunistically while staying focused on operational excellence and revenue growth.”\n \n\n Pursuant to a previous NCIB which commenced on August 22, 2024, the Company purchased for cancellation a total of 1,279,400 Shares, through the facilities of the TSX or other such permitted means, for an aggregate repurchase price of approximately $616,000 (CAD$855,000) and at a volume weighted average purchase price of $0.47 (CAD$0.67) per Share. The previous NCIB authorized the purchase of a maximum of 10,000,000 Shares and will expire on August 21, 2025.\n \n\n There were 306 million Shares outstanding as of August 14, 2025. While the timeframe to purchase Shares starts on August 22, 2025, and ends no later than August 21, 2026, the Company is not obligated to purchase any Shares. If management determines it has a better use for its cash reserves, it is under no obligation to continue to purchase Shares and share purchases may be suspended or terminated at any time at TerrAscend’s discretion. The Company does not expect to incur debt to fund the share repurchase program.\n \n\n As a result of the renewal of its NCIB and in addition to Shares repurchased under the Company’s previous NCIB, TerrAscend is authorized to repurchase up to 10,000,000 of the Company’s Shares over the 12-month period, which represents 4.73% of the public float based on 306,240,023 total Shares outstanding as of August 14, 2025. There is a daily repurchase restriction of 60,255 Shares, which represents 25% of the Company...