TRSSF - Canopy Growth announces debt financing agreement with Terrascend's Arise Bioscience

Canopy Growth ([[CGC]] -1.7%) and TerrAscend ([[TRSSF]] +3.5%) subsidiary Arise Bioscience Inc. have entered into a loan financing arrangement in the amount of US$20M pursuant to a secured debenture. TerrAscend issued 2,105,718 common share purchase warrants to Canopy Growth.Arise is only engaged in the legal sale of CBD products and does not sell THC products. The Loan proceeds are expected to be used by Arise for general corporate purposes, the repayment of indebtedness and/or for other permitted purposes under the terms of the Debenture.The Debenture will bear interest at a rate of 6.10% per annum and will mature on December 9, 2030."With this additional loan into TerrAscend's Arise business unit, we are confident the team will continue to execute at a high level and that they are well positioned to drive strong value creation for Canopy shareholders," said David Klein, CEO, Canopy Growth.

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Canopy Growth announces debt financing agreement with Terrascend's Arise Bioscience