TerrAscend Invests $13 Million for 35% Stake in Union Chill
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TerrAscend Corp. has invested $13 million to acquire a 35% stake in Union Chill Cannabis Company LLC. The investment includes $9 million in convertible notes at 6.5% interest and $4 million in cash upon exercising the option. This deal supports New Jersey's regulatory framework for diversely owned businesses and will expand TerrAscend's retail presence to 20 dispensaries across five U.S. states and Canada. Union Chill generates over $11 million in annual revenue and is expected to enhance TerrAscend's EBITDA and cash flow.
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