On April 20, 2023, TerrAscend Corp. announced further details of the internal reorganization required for TerrAscend’s proposed listing of its common shares on the Toronto Stock Exchange. TerrAscend Growth Corp., a subsidiary of TerrAscend, entered into a subscription agreement with an investor pursuant to which the investor subscribed for $1 million of class A shares of TerrAscend Growth. The closing of the investment is expected to occur following a shareholder meeting on June 22, 2023.
TerrAscend currently holds class B shares of TerrAscend Growth which represents 100% of the issued and outstanding shares of TerrAscend Growth. The class B shares will automatically be exchanged for non-voting non-participating exchangeable shares of TerrAscend Growth immediately upon the issuance of the class A shares to the investor.
Cassels is acting for TerrAscend.