TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it has received the requisite minority shareholder approval at a special meeting, held November 11, 2021, for the proposed acquisition of all of the issued and outstanding securities of Gage Growth Corp. (“Gage”) (CSE: GAGE), a leading high-quality premium cannabis brand and operator (the “Transaction”).
The resolution put forth to shareholders at the meeting in respect of the Transaction was approved by approximately 99.78% of the votes cast by TerrAscend minority shareholders. The resolution required the approval of a majority of the votes cast by shareholders present in person or represented by proxy at the meeting, excluding those of the interested parties, as set out in TerrAscend’s management information circular dated October 4, 2021.
Jason Wild, Executive Chairman of TerrAscend stated “On behalf of the entire TerrAscend team, I’d like to thank our shareholders for the strong support they have shown for the proposed acquisition of Gage Cannabis, one of the most influential and innovative brands in the United States.”
Gage separately announced that it has received the requisite shareholder approval for the Transaction at a special meeting of the Gage shareholders also held on November 11, 2021.
Completion of the Transaction remains conditional on the approval by the Ontario Superior Court of Justice (Commercial List) and the satisfaction or waiver of certain other closing conditions. Following completion of the Transaction, TerrAscend intends to cause Gage shares to be de-listed from the Canadian Stock Exchange and applications will be made for it to cease to be a reporting issuer with the relevant securities regulatory authorities.
The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.