The board of TerrAscend Corp., a Canadian-headquartered cannabis operator with U.S. assets, authorized management to repurchase $10 million of its common shares over the next 12 months.
TerrAscend Excecutive Chairman Jason Wild said the buyback program – the company’s first – demonstrates TerrAscend’s confidence in its future and the company’s commitment to enhancing shareholder value.
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“We are confident in the strength of our business, growth prospects operational excellence and strong cash flow,’” Wild said in a news release announcing the share-repurchase program.
“We believe our equity has compelling value and will be opportunistic with our share repurchases.”
The 10 million shares represent 5% of the public float based on 291.5 million shares outstanding as of Aug. 16, according to a TerrAscend news
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