NEW YORK, Dec. 3, 2018 /CNW/ - This news release is being disseminated as required by National Instrument 62-103 – The Early Warning System and Related Take Over Bids and Insider Reporting Issues ("NI 62-103").
On November 5, 2018 TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) ("TerrAscend") filed an information circular and notice of meeting pursuant to which TerrAscend would commence a capital reorganization through a plan of arrangement (the "Reorganization"). The Reorganization will, among other things, create a new class of unlisted proportionate voting shares of TerrAscend (the "Proportionate Voting Shares").
Jason Wild, Chairman of TerrAscend, announces that, indirectly through controlled entities, namely JW Partners, LP, JW Opportunities Master Fund, Ltd., and Pharmaceutical Opportunities Fund, LP (collectively, the "JW Funds"), he has acquired 35,021.529 Proportionate Voting Shares of TerrAscend. The Proportionate Voting Shares held by the JW Funds represent 100% of the outstanding Proportionate Voting Shares.
The JW Funds were parties to an arrangement agreement (the "Arrangement Agreement") dated October 8, 2018 between the JW Funds, Canopy Growth Corporation (TSX: WEED; NYSE: CGC), Canopy Rivers Corporation (a wholly-owned subsidiary of Canopy Rivers Inc. (TSXV: RIV)), and TerrAscend whereby the JW Funds would exchange all 35,021,529 common shares of TerrAscend held by the JW Funds for Proportionate Voting Shares at a ratio of 1 for 1000.
An early warning report will be electronically filed with the applicable securities commission in each jurisdiction where TerrAscend is a reporting issuer and will be available on SEDAR at www.sedar.com.
SOURCE JW Asset Management LLC
For further information: Jason Klarreich, [email protected]