Terrascend Closes Us$25 Million Commercial Loan With Stearns Bank
06/27/23, 4:06 PM
Location
king of prussiaMoney raised
$25 million
Industry
cannabis
agriculture and farming
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 Info
Location
king of prussia, pennsylvania, united states
Additional Info
TerrAscend Corp. is a fast-growing cannabis company in North America. It operates multiple dispensaries and produces a range of cannabis products. The company is focused on enhancing its market presence through strategic acquisitions. TerrAscend is headquartered in Canada and serves various regions in the U.S.