TerrAscend closes Union Chill dispensary transaction

TerrAscend (TSNDF) announced that its consolidated entities closed on the previously announced transaction with Union Chill Cannabis Company, a high-performing dispensary in Hunterdon County. The transaction expands TerrAscend’s retail footprint to four dispensaries in New Jersey and is expected to be immediately accretive to EBITDA and cashflow. In May 2025, TerrAscend signed an agreement with Union Chill for total consideration of $13M consisting of $9M in the form of convertible notes bearing interest at 6.5% for an option to purchase 35% of Union Chill and $4M in cash upon the exercise of the Option. The transaction conforms to New Jersey’s regulatory framework, which facilitates investment opportunities for diversely owned businesses. Upon exercise of the Option and additional conditions, the transaction will allow the Company to fully consolidate the business in its financial results and increase TerrAscend’s consolidated retail footprint to a total of 20 dispensaries across five U.S. states and Canada.