TerrAscend Corp., a multistate operator with an office in Canada, said it is entering the Ohio marijuana market through an acquisition.
The company signed a definite agreement to buy Ratio Cannabis, which operates a retail outlet in Goshen Township, for $10.3 million, according to a Wednesday news release.
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The deal includes $5 million in cash, $1.3 million in TerrAscend common shares and a seller’s note for $3.9 million carrying 6% interest with a two-year maturity.
Under the terms of the agreement, Ohio Dispensing 1, a TerrAscend subsidiary in the United States, has the option to purchase Ratio Cannabis assets, the release noted.
The transaction is expected to be immediately accretive on an EBITDA (earnings before interest, taxes, depreciation and amortization) and cash flow
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