TerrAscend Corp to Begin Trading on TSX with New Ticker Symbol “TSND”

LOS ANGELES– TerrAscend Corp, a U.S. cannabis industry, is set to begin trading on the Toronto Stock Exchange (TSX) on July 4, 2023. This development comes as TerrAscend aims to expand its investor base and capitalize on the growing opportunities in the cannabis sector. The company’s common shares will trade under the new ticker symbol “TSND” on the TSX.

With the TSX listing, TerrAscend anticipates enhanced access to a broader group of institutional and retail investors who are seeking attractive opportunities in the cannabis space. This move aligns with the company’s strategic objective of achieving greater financial independence and reducing reliance on uncertain regulatory reforms in the United States.

TerrAscend’s decision to pursue a TSX listing was motivated by the challenges and uncertainties faced by the U.S. cannabis industry, which has been subject to onerous treatment by the federal government. Acknowledging the industry’s potential as an economic, employment, and wellness engine, Jason Wild, the executive chairman of TerrAscend, expressed the company’s determination to take control of its own destiny.

Over the past year, TerrAscend has made significant strides in strengthening its financial position. The company successfully reduced expenses, improved its balance sheet, lowered interest expenses, and achieved positive cash flow. These efforts have been complemented by impressive revenue growth, positioning TerrAscend as a leader in the sector.

Furthermore, TerrAscend has bolstered its operational capabilities with the establishment of a new cultivation facility and strategic acquisitions in Maryland. These developments align with the company’s growth strategy and are expected to drive further success, particularly with the anticipated launch of adult-use sales ahead of the TSX listing.

As TerrAscend prepares to transition to the TSX, the company emphasized that shareholders need not take any action regarding their common shares. The change in listing venue and ticker symbol will not affect shareholders’ ability to trade their shares seamlessly.

In conjunction with the TSX listing, TerrAscend’s common shares will be delisted from the Canadian Securities Exchange, with the process scheduled to conclude at the close of markets on June 30, 2023. It is worth noting that Canadian stock markets will be closed on July 3, 2023, in observance of Canada Day.

The TSX listing marks a significant milestone for TerrAscend as it seeks to solidify its position in the cannabis industry and attract a broader investor base. The company’s commitment to financial independence and its impressive operational progress position TerrAscend for continued growth and success in the evolving cannabis market.