TerrAscend has completed the sale of its facility located in Mississauga, Canada, for CAD$19.7 million. Net proceeds will be used to pay down existing Company debt.
"I am pleased we were able to complete the sale of this facility at an attractive price. This latest debt paydown adds to the substantial progress we have made over the last three quarters in strengthening our balance sheet by reducing our debt and interest expense. The continued improvement of our balance sheet remains a priority. We plan to pay down additional debt in the coming months," commented Jason Wild, Executive Chairman of TerrAscend.
For more information:
TerrAscend
www.terrascend.com