TerrAscend Corp. (TRSSF) announced that it has entered into a definitive agreement to acquire Allegany Medical Marijuana Dispensary (“AMMD”), a medical dispensary in Maryland, from Moose Curve Holdings, LLC (“Moose Curve”). Under the terms of the agreement, TerrAscend will acquire 100% equity interest in AMMD for total consideration of $10 million in cash, in addition to acquiring the real estate for $1.7 million.
Jason Wild, Executive Chairman of TerrAscend, stated, “Our Maryland strategy is coming together nicely. When we entered the state, we planned to significantly expand our cultivation and manufacturing capacity, in addition to vertically integrating. One year later, we have made significant progress with the buildout of our 160,000 square foot facility and our acquisition of this high-performing medical dispensary. Our progress is especially exciting within the context of the recent news that adult-use will be on the ballot in the November election. I could not be happier about how well positioned we are for the possible launch of Maryland’s adult-use program in mid-2023.”
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