Cannabis Investment Club

[JohnCM]

Press Release 12/19/2018

TerrAscend Closes Credit Facility for Up to US$75 Million

PR Newswire

TORONTO, Dec. 19, 2018

Funds immediately available to support TerrAscend's US acquisition strategy

TORONTO, Dec. 19, 2018 /PRNewswire/ - TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) ("TerrAscend") is pleased to announce that it has finalized the previously announced US$75 million credit facility with certain funds managed by JW Asset Management LLC, where Jason Wild, Chairman of the Board of TerrAscend, is the President and Chief Investment Officer. The credit facility gives TerrAscend access to non-dilutive capital for acquisitions in the United States, as well as for general corporate and working capital purposes. Funds will be immediately available and will bear interest at 8.75% per annum, with a 1% origination fee. Amounts drawn under the facility, which matures on December 19, 2019 will be guaranteed by TerrAscend Corp. and one of its wholly-owned Canadian subsidiaries and will be secured by certain of such subsidiary's inventory and trade receivables.

"Following up on our announcement last week, I am pleased to report that we have fully executed the credit facility with immediate access to those funds. We look forward to sharing more details regarding progress on our US strategy in the coming days and weeks," stated Matthew Johnson, President of TerrAscend Corp. and TerrAscend USA.