[PRESS RELEASE] – TORONTO, Dec. 30, 2025 – TerrAscend Corp., a leading North American cannabis company, announced that its consolidated entities (TerrAscend) closed on the previously announced transaction with Union Chill Cannabis Co. LLC, a high-performing dispensary in Hunterdon County, N.J. The transaction expands TerrAscend’s retail footprint to four dispensaries in New Jersey and is expected to be immediately accretive to EBITDA and cash flow.
In May 2025, TerrAscend signed an agreement with Union Chill for total consideration of $13 million, consisting of $9 million in the form of convertible notes bearing interest at 6.5% for an option to purchase 35% of Union Chill (the “option”) and $4 million in cash upon the exercise of the option.
The transaction conforms to New Jersey's regulatory framework, which facilitates investment opportunities for diversely owned businesses. Upon exercising the option and meeting additional conditions, the transaction will enable the company to fully consolidate the business in its financial results and increase TerrAscend's consolidated retail footprint to a total of 20 dispensaries across five U.S. states and Canada.
“Union Chill will strengthen our leadership position in New Jersey with the addition of a high-performing dispensary strategically located in Hunterdon County,” TerrAscend Executive Chairman Jason Wild said. “This dispensary is well situated with limited competition within a 10-mile radius and is currently generating over $11 million in annualized revenue. With the integration of our premium brand portfolio, we expect to drive increased sales, margins and long-term value.”
