logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

Terrascend Closes Us$25 Million Commercial Loan With Stearns Bank

Jun 27, 2023•over 2 years ago

Amount Raised

$25 Million

King Of PrussiaCannabisAgriculture and Farming

Description

TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it has closed on a US$25 million commercial loan with Stearns Bank (the “Loan”). The proceeds from the Loan will be used to pay down the Company’s higher interest rate debt, thereby lowering overall interest expense. The Loan carries an interest rate of prime plus 2.25%, which is currently 10.5%, and matures in December 2024.

Company Information

Company

TerrAscend

Location

King Of Prussia, Pennsylvania, United States

About

TerrAscend Corp. is a multi-state operator in the cannabis industry. The company focuses on the cultivation, processing, and retail of cannabis products. It operates dispensaries and has a significant presence in multiple states. TerrAscend aims to expand its footprint and offerings in the North American cannabis market.

Related People

3 contacts

Sign in to view contact details

Sign in to view contact details

Sign in to view contact details

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech