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TerrAscend Strengthens Leadership Position in New Jersey with Closing of Aunt Mary’s Transaction

  • TerrAscend Corp. closed its acquisition of Aunt Mary's Dispensary LLC in Hunterdon County, New Jersey, expanding its retail footprint to five locations in the state.
  • The acquired dispensary generates over US$10 million in annualized revenue & will be immediately accretive to EBITDA & free cash flow.
  • The total transaction consideration was US$9 million, comprised of a US$3 million unsecured convertible debenture bearing 6.0% annual interest for an option to purchase 35% of Aunt Mary's & US$6 million payable in cash upon option exercise.
  • Upon exercising the option & meeting additional conditions, TerrAscend will fully consolidate Aunt Mary's & increase its total consolidated retail footprint to 21 dispensaries across five U.S. states & Canada.
  • The transaction aligns with New Jersey's regulatory framework designed to facilitate investment opportunities for diversely owned businesses.