TerrAscend Corp. director Edward J. Schutter acquired secured convertible debentures with an aggregate principal amount of $1,000,000 in a private placement that closed on June 23, 2026. The debentures bear interest at 8.00% per year, payable quarterly in arrears in cash or, at the company’s election, by adding interest to principal.
The debentures are convertible into Common Shares at a conversion price of $0.87 per share, representing 1,149,425 underlying Common Shares. They mature on September 30, 2031. After these transactions, Schutter directly holds 2,451,337 Common Shares. The filing also updates his holdings to remove 2,000 earlier convertible debentures that had matured and were repaid entirely in cash.
TerrAscend Corp. insiders associated with JW Asset Management and Jason G. Wild reported administrative changes to their employee stock options. On June 24, 2026, a prior shareholder-approved plan took effect, reducing the exercise price of previously granted options to $0.26 per common share.
The filing shows new options for 1,000,000 and 200,000 shares at this $0.26 strike being recorded, while options for the same amounts at higher exercise prices of $3.16 and $10.79 were simultaneously returned to the company. The number of optioned shares is unchanged and no open-market buying or selling occurred.
TerrAscend Corp. is asking shareholders to approve a resolution authorizing the board to effect a share consolidation at a ratio chosen within a range of one post-consolidation share for every five to twenty pre-consolidation shares. The special meeting will be held virtually on August 24, 2026 and the record date for voting is June 30, 2026. If approved, the Board may implement the consolidation at any time prior to August 24, 2027, select the exact whole-number ratio within the approved range, and cancel fractional post-consolidation shares for no consideration. The Board states the consolidation is intended to support potential U.S. exchange listing considerations including meeting a minimum bid price of $4.00, but implementation is discretionary and subject to TSX acceptance and other conditions.
TerrAscend Corp. completed a private placement of secured convertible debentures, raising aggregate gross proceeds of US$21.7 million. The company used about US$11.1 million to retire senior unsecured convertible debentures maturing in 2026, with the balance earmarked for mergers and acquisitions and debt repayment or refinancing.
The new debentures mature on September 30, 2031, bear interest at 8.00% in cash with an option for higher-rate paid-in-kind interest, and are convertible at US$0.87 per share. Full conversion of the principal issued at the initial closing would result in about 24.9 million new common shares. TerrAscend also amended its US$219.0 million FG Loan to permit up to US$25.0 million of these debentures and made a US$10.0 million prepayment on the FG Loan.
TerrAscend Corp. reported results from its June 9, 2026 annual shareholder meeting held virtually. Shareholders elected five directors, including Craig Collard and Jason Wild, with roughly 146.7 million votes cast for each and significant broker non-votes reflecting non‑voting street‑held shares.
Investors also ratified MNP LLP as auditor for the year ending December 31, 2026 and renewed the company’s stock option and share unit plans by approving all unallocated awards under each plan, as required by Toronto Stock Exchange rules. As of April 13, 2026, TerrAscend had 309,561,287 common shares outstanding, with 195,790,029 represented at the meeting.
TerrAscend Corp. reported first quarter 2026 net revenue of $65.5 million, up slightly from $64.3 million a year earlier, with a gross profit margin of 52.8%. The company posted a GAAP net loss from continuing operations of $6.8 million, similar to the prior-year loss.
Profitability on a cash and adjusted basis was stronger: Adjusted EBITDA from continuing operations was $17.4 million, a 26.5% margin, while free cash flow was $7.8 million, marking the 11th consecutive quarter of positive free cash flow and 15th of positive operating cash flow. TerrAscend ended the quarter with $39.1 million in cash and cash equivalents and continued to gain retail share in key states such as New Jersey, Maryland, and Pennsylvania. Management highlighted the U.S. Department of Justice’s rescheduling of certain medical cannabis to Schedule III, which they believe removes the 280E tax burden on medical cannabis and could, over time, support better profitability, balance sheet strength, and potential access to major U.S. exchanges.
TerrAscend Corp. granted its Chief Financial Officer, Eric Matthew Jackson, stock options covering 300,000 common shares. The options have an exercise price of $0.76 per share and expire on April 27, 2036. They vest in four equal annual installments beginning on the first anniversary of the grant date, aligning compensation with longer-term company performance.
TerrAscend Corp. filed an initial insider ownership report for Eric Matthew Jackson, who serves as Chief Financial Officer. This Form 3 filing establishes his status as a reporting insider. The provided data show no reported buy, sell, or other share transactions in this filing.
TerrAscend Corp. reported preliminary, unaudited first-quarter 2026 results from continuing operations, excluding Michigan, which is treated as discontinued. The Company expects net revenue of $65.5 million, slightly above the first quarter of 2025 but modestly below the fourth quarter of 2025. Gross profit margin is anticipated at 52.8%, essentially in line with recent periods. General and administrative expenses were flat quarter-over-quarter, and TerrAscend generated positive cash flow from operations for the 15th consecutive quarter, highlighting ongoing cash generation.
Management cited year-over-year revenue growth from continuing operations and profitability metrics exceeding internal targets. TerrAscend also referenced recent U.S. federal rescheduling of certain medical cannabis to Schedule III and an upcoming hearing on broader rescheduling, noting that federal law and enforcement remain a significant risk. The Company plans to discuss detailed first-quarter 2026 results on an earnings conference call on May 7, 2026 at 8:00 a.m. Eastern Time.