TerrAscend Corp. (TSX: TSND) (OTCQX: TRSSF) has started trading its common shares on the Toronto Stock Exchange (TSX) under the ticker symbol “TSND”.
The company’s executives in Toronto rang the opening bell for the trading session on July 4. The move to the TSX, from the previous ticker “TER” on the Canadian Securities Exchange, does not require any action from shareholders, the company said on Tuesday.
In addition to the TSX listing, TerrAscend closed its third and final tranche of private placements on June 30 raising approximately US$21 million. The company also issued 100 senior unsecured convertible debentures and 216,666 units of the company, each comprised of one common share and one-half of one common share purchase warrant.
“Today is an incredible day for TerrAscend and our stakeholders. We believe our TSX listing will provide the company greater access to a broader group of institutional and retail investors looking for attractive opportunities in the cannabis space,” TerrAscend executive chairman Jason Wild said.
“With all of the fundamental progress that we have made over the past twelve months, combined with this TSX listing, we believe we have achieved our goal of truly becoming independent of the need for regulatory reform.”
📣 @terrascendcorp (TSX: $TSND) is now trading on Toronto Stock Exchange!@JasonGWild, Executive Chairman, @terrascendcorp, and his team, joined us to celebrate and open the market.
TerrAscend is a leading North American #cannabis operator with vertically integrated operations… pic.twitter.com/5UlSWhQuWc
— Canada's Markets (@tsx_tsxv) July 4, 2023
Read more: TerrAscend acquires Maryland dispensary for US$22.1M
Read more: TerrAscend files application to list its common shares on the TSX
The company operates vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan and California through its subsidiary, TerrAscend Growth Corp.
It also runs retail operations in Canada, including The Apothecarium and Gage dispensary locations. With a focus on cultivation, processing, and manufacturing, TerrAscend Growth ensures the production of high-quality cannabis products for both medical and legal adult-use markets.
TerrAscend boasts a diverse portfolio of businesses and brands, including Gage Cannabis, Cookies, Lemonnade, Ilera Healthcare, Kind Tree, Legend, State Flower, Wana and Valhalla Confections.
Company stock dropped by 5 per cent on Tuesday to $2.45 on the Toronto Stock Exchange.
