TerrAscend Corp. (TER) (
CSE.TER) – a leading North American cannabis multi-state operator and
Gage Growth Corp. (
CSE.GAGE), a leading high-quality premium cannabis brand and operator – have announced that they have entered into a definitive arrangement agreement pursuant to which TerrAscend will acquire all of the issued and outstanding subordinate voting shares of Gage by way of a court-approved plan of arrangement under the Canada Business Corporations Act.
Under the terms of the Arrangement Agreement, shareholders of Gage will receive 0.3001 of a common share of TerrAscend for each Gage Share (or equivalent) held, representing a total consideration of approximately $545 million based on the closing price of TerrAscend on August 31, 2021. The Exchange Ratio implies a consideration of $2.11 (or CDN$2.66) per Gage Share, representing a 18% premium based on the closing prices of both companies' shares on the Canadian Securities Exchange (CSE) on August 31, 2021.
Full news release
here.
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