TerrAscend to Acquire Stake in NJ Dispensary

TORONTO — Multistate cannabis operator TerrAscend Corp. signed an option agreement to purchase 35 percent of a dispensary in New Jersey. The deal is valued at $9 million, comprising $3 million in a five-year unsecured convertible promissory note bearing interest of 6 percent and $6 million in cash upon exercise of the option.

Opened in 2023 in Flemington, New Jersey, Aunt Mary’s Dispensary LLC includes 5,200 square feet of retail space and has limited nearby competition. The dispensary generates more than $10 million in annualized revenue, according to TerrAscend Executive Chairman Jason Wild.

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