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TerrAscend Corp. acquires Gage Cannabis

Stockhouse Editorial
1 Comment| September 2, 2021

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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.


New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.


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