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TerrAscend to acquire Gage Cannabis for $545M

TerrAscend Corp. is looking to acquire Michigan-based cannabis operator, Gage Growth Cannabis Corp.

Under the terms of the $545-million agreement, TerrAscend will acquire all issued and outstanding subordinate voting shares. Upon completion of the transaction, the combined businesses will operate in five U.S. states and Canada, including seven cultivation and processing facilities and 23 dispensaries in U.S. and Canada.

“The acquisition of Gage expands our footprint to the third largest cannabis market in the U.S.,” said Jason Wild, Executive Chairman of TerrAscend, in a press release. “We look forward to leveraging Gage’s profound connection with Michigan’s consumers, in addition to its established partnerships with award-winning brands like COOKIES, to provide our patients and customers with best-in-class product offerings and retail experiences.”