Business

TerrAscend spends $11.7M for Md. medical dispensary


TerrAscend Corp., a North American hashish operator, Monday introduced it has entered right into a definitive settlement to accumulate Allegany Medical Marijuana Dispensary, a medical dispensary in Cumberland from Moose Curve Holdings LLC, for a complete deal of 11.7 million.

Under the phrases of the settlement, TerrAscend will purchase 100% fairness curiosity in AMMD for $10 million in money, along with buying the actual property for $1.7 million. The Transaction is topic to customary closing circumstances and regulatory approvals.

Located close to interstate 68 and near the West Virginia and Pennsylvania borders at 100 Beall St., AMMD has constructed a powerful and constant buyer base in northwest Maryland. TerrAscend expects to rebrand the 8,000 sq. foot dispensary as The Apothecarium, the corporate’s award-winning retail dispensary idea. In addition, TerrAscend can be supplying the dispensary with its personal high-quality branded merchandise, together with Gage, Kind Tree and Valhalla edibles, topic to regulatory approval.

Following the shut of the transaction, TerrAscend’s retail footprint will improve to 27 dispensaries nationwide.





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