Cannabis cultivator TerrAscend Corp. (CSE:TER)(OTC: TRSSF) reported the completion of its previously announced non-brokered private placement. Orders totaled an approximate CA$69 million (about $93 million USD).
TerrAscend had issued a total of 9,026,034 common shares at a previously price previously announced at $7.64.
All of the company's leadership team took part in the offering. This included a lead order of $18.4 million from JW Asset Management, LLC and other affiliated parties.
TerrAscend now plans to use the raised funds to fuel its M&A activity in the United States. Other funds will be allocated towards working capital and other corporate purposes.
The company will pay a cash finder’s fee on subscriptions for specific finders.
TerrAscend's OTC stock traded around $5.79 per share at time of publication. Its Canada-listed stock traded around $7.76.
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