TRSSF - EXCLUSIVE: Why TerrAscend's Success Doesn't Rely On Federal Cannabis Reform | Benzinga
At a time when marijuana businesses are hoping for cannabis reform on the federal level, one company is no longer at the mercy of policymakers on the Hill.
"We're independent of the need for federal reform or tax relief or anything like that," Jason Wild, chairman of TerrAscend Corp. (OTCQX: TRSSF), said on Thursday at the Benzinga Cannabis Capital Conference in Chicago.
Wild and his colleagues managed to raise $21 million in equity and senior unsecured convertible debentures through two funding rounds and list the company on the Toronto Stock Exchange on July 4.
The move made TerrAscend the first American cannabis multistate operator to trade on the TSX, allowing access to more institutional capital and deeper-pocketed investors. Investment bank Morgan Stanley removed all restrictions from the stock following the listing, among others.
"After the listing before the Schedule III news came out, our volume was up about 140% or so," Wild told Jesse Redmond, the panel moderator and head of cannabis at Water Tower Research. "We have been very pleased with what we've seen in a couple of months or ...