U.S. hedge fund to anchor TerrAscend offering of up to $40 mln
Mississauga, Ontario-based cannabis company TerrAscend Corp has launched a non-brokered private placement to raise up to $40 million (US$30 million). The offering will include a minimum lead-order investment of about $13.4 million (US$10 million) from JW Asset Management, a U.S. hedge fund manager. JW currently holds about 30 percent of TerrAscend's issued and outstanding common shares. TerrAscend operates several businesses active in the medical and legal adult-use cannabis markets in Canada and the United States. The company will use the offering's proceeds for its U.S. acquisition strategy, working capital and other priorities.
23 April 2019•3 mins read
