Leading North American cannabis operator TerrAscend Corp. announced mid-week that it has begun mailing materials to the company’s shareholders, including the company’s management information circular dated October 4, 2021, in order to hold a special meeting scheduled for November 11. The purpose of the event is to obtain retail shareholder approval of TerrAscend’s proposed acquisition of all of the issued and outstanding securities of Gage Growth Corp.
Plans for this transaction were announced in early September, and, in order to bring it to fruition, will make use of a plan of arrangement that received court approval under the Canada Business Corporations Act. Those interested in more information on the meeting materials, including the circular, can go to the official SEDAR website, or visit the company’s website.
As is well known, these types of transactions always include a long list of benefits, and this will be no exception. TerrAscend shareholders will find an exceptional opportunity once the deal is fully sealed. Some of those benefits include superior market leadership, access to premium brands and a greatly expanded retail footprint, as well as the ability to start rubbing elbows with a leading retailer and expert operating teams. Gage’s award-winning retail stores generate industry-leading retail metrics. With this acquisition, TerrAscend expects to take full advantage of Gage’s portfolio of over 40 proprietary flower varieties, while leveraging Gage’s incredible marketing and branding capabilities.
The transaction will also combine management teams whose core philosophies will have strong similarities. The combined expertise will have a strong track record of execution and unmatched operational experience when it comes to building leading companies in the country’s most competitive cannabis markets. It’s certainly a smart move on TerrAscend’s part.