TerrAscend announces $10M share repurchase program

TerrAscend Board of Directors has authorized the Company to commence a normal course issuer bid to repurchase up to $10 million of the Company’s common shares, from time to time over a 12-month period. There were 291 million Shares outstanding as of August 16, 2024. While the timeframe to purchase Shares starts on August 22, 2024, and ends no later than August 21, 2025, the Company is not obligated to purchase any Shares. If management determines it has a better use for its cash reserves, it is under no obligation to continue to purchase Shares and share purchases may be suspended or terminated at any time at TerrAscend’s discretion. The Company does not expect to incur debt to fund the share repurchase program. The Company is authorized to repurchase up to 10,000,000 of the Company’s Shares, which represents 5% of the public float based on 291,513,055 total Shares outstanding as of August 16, 2024. There is a daily repurchase restriction of 65,361 Shares, which represents 25% of the Company’s average daily trading volume on the Toronto Stock Exchange of 261,445 Shares. Shares may be purchased on the Toronto Stock Exchange, the OTCQX Best Market, or alternative trading systems and will be subject to the limitations and rules imposed by U.S. and Canadian securities regulations. The actual number of Shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements. All Shares acquired will be returned to treasury and cancelled.