Canopy Growth, TerrAscend Canada Reach Debt Financing Arrangement

(RTTNews) - Canopy Growth Corp. (CGC, WEED.TO) and TerrAscend Canada Inc., a wholly owned subsidiary of TerrAscend Corp., said that they reached a loan financing arrangement in the amount of C$80.5 million pursuant to a secured debenture.

In connection with the Loan, TerrAscend has issued 17.81 million common share purchase warrants to Canopy Growth.

TerrAscend Canada expects to use the net proceeds for general corporate purposes and the funding of its Canadian operations, its Arise Bioscience U.S. hemp division, international expansion and the repayment of indebtedness.