Canopy Growth Corp. (
TSX.WEED), the world’s largest cannabis producer, has awarded
TerrAscend Corp. (
CSE.TER) with $80-plus million loan, and could potentially take a 15 percent stake in stake in the global cannabinoid company.
In a joint company announcement on Wednesday, Canopy announced a loan agreement with TerrAscend to give the cannabis operator $80.5 million in a secured debenture agreement.
In return, TerrAscend will award T.WEED with 17.8 million in common share purchase warrants over two separate tranches that can be exercised as early as March 2030, or when the U.S. makes cannabis federally legal.
TerrAscend said it plans to use the loan proceeds for general corporate purposes and to fund its Canadian operations.
Complete press release
here.