TerrAscend Announces Amendment of Pennsylvania Credit Agreement
TORONTO – TerrAscend Corp. (“TerrAscend”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that its subsidiary, WDB Holding PA, Inc., has completed an amendment (the “Amendment”) to its existing $115 million senior secured term loan in Pennsylvania (the “Loan”). “TerrAscend has taken significant measures recently to reduce its outstanding debt and interest expense, further strengthening our path to positive sustainable cash flow from operations,” said Jason Wild, Executive Chairman of TerrAscend. “The Company has access to multiple additional sources of funds, many of which are non-dilutive and non-interest bearing in nature, and we intend to explore all options for continued debt reduction and balance sheet optimization,” continued Mr. Wild. The Amendment will reduce Company debt by $35 million and annual interest expense by $5 million. Combined with recently announced debt retirement of $125 million, Company debt will be reduced...