TerrAscend To Acquire Gage Growth In $545M All-Stock Deal, Reaching Third Largest Cannabis Market In The U.S.

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), and Gage Growth Corp. (CSE: GAGE) (OTCPK: GAEGF) revealed Wednesday that they have entered into a definitive agreement, under which TerrAscend will acquire all of the issued and outstanding subordinate voting shares of Gage for around $545 million.

Under the deal, Gage shareholders will receive 0.3001 of a common share of TerrAscend for each Gage share held, representing a total consideration of approximately $545 million based on TerrAscend's August 31, closing price. The exchange ratio implies a consideration of $2.11 (or CA$2.66) per Gage share, representing a 18% premium based on the closing prices of both companies' shares on the Canadian Securities Exchange on August 31, 2021.

Upon completion of the transaction, …

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