TRSSF - TerrAscend Acquiring 3 Pennsylvania Marijuana Dispensaries for $63 Million
TerrAscend (OTC: TRSSF) is pushing deeper into the very limited space of Pennsylvania cannabis retail with a new asset buy. The Canadian marijuana company announced that it has signed a definitive agreement to fully acquire privately held GuadCo and KCR Holdings (together known as KCR), which collectively operate three marijuana dispensaries in the state. At the moment, TerrAscend has a 10% stake in the latter company.
The price of the deal is $63 million; of that, $36 million will be paid in TerrAscend stock, $20.25 million in cash, and the remainder with a $6.75 million note.
The three dispensaries are in Bethlehem, Allentown, and Stroudsburg. This doubles TerrAscend's presence in the state, as it already operates three dispensaries there.
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TerrAscend Acquiring 3 Pennsylvania Marijuana Dispensaries for $63 Million