Welcome to our dedicated page for Terrascent news (Ticker: TSNDF), a resource for investors and traders seeking the latest updates and insights on Terrascent stock.
TerrAscend Corp. (TSNDF) generates frequent news as a TSX-listed cannabis company with operations across the North American cannabis sector. Company updates often focus on its multi-state footprint in the United States, retail operations in Canada, and its combination of cultivation, processing, manufacturing and dispensary activities serving medical and legal adult-use cannabis markets.
News releases commonly cover quarterly financial results, where TerrAscend reports revenue, margins, cash flow and non-GAAP measures such as EBITDA from continuing operations, Adjusted EBITDA and Free Cash Flow. These earnings updates also describe performance in key markets such as New Jersey, Maryland, Pennsylvania, Ohio and California, and explain how strategic decisions, including the exit from the Michigan market, affect its financial profile.
Investors following TerrAscend’s news can also expect announcements about financing and capital structure, including details of senior secured syndicated term loans, refinancing of existing debt and the availability of additional uncommitted term loan facilities for mergers and acquisitions. The company has additionally reported on a normal course issuer bid authorizing share repurchases over a specified period and has disclosed the number of shares repurchased and related pricing under previous programs.
Another recurring theme in TerrAscend’s news is strategic transactions and partnerships. Examples include the option agreement and related financing for Union Chill Cannabis Company LLC in New Jersey, as well as an exclusive licensing agreement with Tyson 2.0 to manufacture and distribute branded cannabis products in Maryland and Pennsylvania. The company’s releases also highlight acquisitions of dispensaries in markets such as Ohio and expansions of cultivation and manufacturing capacity in states like Maryland and New Jersey.
For readers tracking TSNDF news, this page offers a consolidated view of TerrAscend’s earnings announcements, financing developments, asset sales and acquisitions, licensing partnerships and operational updates across its North American cannabis operations.
TerrAscend announced preliminary Q4 2024 financial results, reporting net revenue of $74.4 million, a slight increase of 0.3% from Q3 2024's $74.2 million. The company achieved a gross profit margin of 50.2%, up 140 basis points from Q3, while reducing general and administrative expenses and generating positive cashflow from operations.
The company maintained its #1 market share position in New Jersey throughout 2024 and saw consecutive quarterly revenue growth in Maryland with gross margins exceeding 50%. TerrAscend is preparing for potential adult-use implementation in Pennsylvania, where it operates a 150k sq ft cultivation facility. The company is also expanding into Ohio through the Ratio Cannabis deal, marking its entry into a sixth state.
TerrAscend has appointed Lynn Gefen as Chief People Officer, expanding her current role as Chief Legal Officer and Corporate Secretary, effective November 12, 2024. This consolidation aligns with the company's strategy to streamline operations and optimize resources. Gefen, who joined TerrAscend in May 2022, brings extensive experience from previous roles at HomeServe, Diageo North America, and Citrix Systems, where she handled various legal, compliance, and corporate matters. She holds a J.D. from American University and a Bachelor of Arts from the University of Florida.
TerrAscend Corp. (TSX: TSND, OTCQX: TSNDF) reported Q3 2024 financial results with net revenue of $74.2 million, down from $77.5 million in Q2 2024. The company maintained a gross profit margin of 48.8% and reported a net loss of $21.4 million from continuing operations. Notable achievements include the ninth consecutive quarter of positive cash flow from operations and fifth consecutive quarter of positive free cash flow. The company secured a $140 million senior secured term loan at 12.75% interest and announced plans to enter the Ohio market through a dispensary acquisition. TerrAscend maintains the #1 market share position in New Jersey and grew wholesale revenue in Maryland by 26% quarter-over-quarter.
TerrAscend has signed a definitive agreement to acquire Ratio Cannabis , a profitable dispensary in Goshen Township, Ohio, marking its entry into its sixth state. The $10.3 million acquisition includes $5.0 million in cash, $1.32 million in company shares, and a $3.98 million seller's note. The transaction is expected to be immediately accretive on EBITDA and cashflow. Ratio Cannabis operates in a strategic location with no competition within a 20-mile radius. This acquisition will expand TerrAscend's U.S. retail footprint to 38 dispensaries across six states, with plans for further expansion in Ohio's emerging adult-use market.
TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, has announced it will host a conference call to discuss its third quarter 2024 results on Wednesday, November 6, 2024, at 5:00 p.m. Eastern Time. The company will release its financial results for the quarter ended September 30, 2024, after market close on the same day.
Conference call details include:
- Webcast: https://app.webinar.net/9j6aMNoEX1d
- Dial-in Number: 1-888-510-2154
- Replay: 1-289-819-1450 or 1-888-660-6345 (available until November 20, 2024, midnight ET)
- Replay Entry Code: 37705#
TerrAscend Corp. (TSX: TSND, OTCQX: TSNDF), a leading North American cannabis company, has announced the completion of the second draw of US$26 million in gross proceeds from its senior secured term loan. This brings the total gross proceeds to US$140 million from funds managed by FocusGrowth Asset Management, LP and other loan syndicate members.
The loan carries an interest rate of 12.75%, matures in August 2028, and contains no prepayment penalties. It is guaranteed by TerrAscend and TerrAscend USA, Inc., and secured by consolidated entities in Pennsylvania, California, Michigan, and certain entities in Maryland. The proceeds from the second draw were used to pay down the company's higher interest Michigan debt.
The initial draw of US$114 million was completed in August 2024. Notably, no warrants were issued as part of the loan. Ventum Capital Markets acted as the exclusive financial advisor for this transaction.
TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, has announced its participation in the ATB Capital Markets 2024 Life Sciences Institutional Investor Conference on September 18, 2024, in New York City. Key highlights include:
- Jason Wild, Executive Chairman, will join a panel discussion on cannabis reform's impact on valuations and investor engagement
- The panel is scheduled for September 18th at 8:00 AM ET
- Management team, including Wild, CEO Ziad Ghanem, and CFO Keith Stauffer, will host one-on-one meetings during the conference
This event provides an opportunity for TerrAscend to engage with institutional investors and discuss the evolving cannabis industry landscape.
TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, has announced a $10 million share repurchase program. The company's Board of Directors has authorized a normal course issuer bid (NCIB) to repurchase up to 10 million common shares over a 12-month period, representing 5% of the public float. The program will run from August 22, 2024, to August 21, 2025.
Executive Chairman Jason Wild expressed confidence in TerrAscend's future and commitment to enhancing shareholder value. The company is not obligated to purchase any shares and may suspend or terminate the program at any time. TerrAscend does not expect to incur debt to fund the repurchase program. Shares may be purchased on the Toronto Stock Exchange, OTCQX Best Market, or alternative trading systems, subject to a daily repurchase restriction of 65,361 shares.
TerrAscend Corp. (TSX: TSND, OTCQX: TSNDF) reported its Q2 2024 financial results, showing strong growth and improved profitability. Key highlights include:
- Net Revenue of $77.5 million, up 7.5% year-over-year
- Gross Profit Margin of 48.6%
- Adjusted EBITDA from continuing operations of $15.6 million, a 21.9% increase year-over-year
- Free Cash Flow of $11.7 million
- Maintained #1 market share position in New Jersey throughout H1 2024
The company achieved its 8th consecutive quarter of positive cash flow from continuing operations. TerrAscend also closed a $140 million senior secured term loan, providing financial flexibility for future growth and expansion strategies.
TerrAscend Corp. (TSX: TSND, OTCQX: TSNDF) has secured a $140 million senior secured term loan from FocusGrowth Asset Management and other syndicate members. The non-dilutive financing features a 12.75% interest rate and matures in August 2028 with no prepayment penalties. The loan includes an initial draw of $114 million for operations in Pennsylvania, Maryland, and California, with a second draw of $26 million expected in September 2024 for Michigan operations.
The proceeds will be used to retire existing debt and potentially fund M&A activities for geographic expansion. This financing strengthens TerrAscend's balance sheet and provides financial flexibility for growth, with no other material debt maturing until late 2027. The transaction also involved a related party participation from Jason Wild, an insider of the company, who invested approximately $7.5 million in the loan syndicate.