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[PRESS RELEASE] – TORONTO, Aug. 20, 2025 – TerrAscend Corp., a leading North American cannabis company, announced that its board of directors authorized the company to renew and replenish its normal course issuer bid (NCIB) to repurchase up to USD $10 million of the company’s common shares, from time to time over 12 months.
TerrAscend Executive Chairman Jason Wild said, “We believe our shares represent compelling value at current levels, especially in the context of recent federal regulatory momentum. This program provides us with the flexibility to allocate capital opportunistically while staying focused on operational excellence and revenue growth.”
Pursuant to a previous NCIB which commenced on Aug. 22, 2024, the company purchased for cancellation a total of 1,279,400 shares, through the facilities of the Toronto Stock Exchange (TSX) or other such permitted means, for an aggregate repurchase price of approximately $616,000 (CAD$855,000) and at a volume weighted average purchase price of $0.47 (CAD$0.67) per share. The previous NCIB authorized the purchase of a maximum of 10 million shares and will expire on Aug. 21, 2025.
There were 306 million shares outstanding as of Aug. 14, 2025. While the timeframe to purchase shares starts on Aug. 22, 2025, and ends no later than Aug. 21, 2026, the company is not obligated to purchase any shares. If management determines it has a better use for its cash reserves, it is under no obligation to continue to purchase shares, and share purchases may be suspended or terminated at any time at TerrAscend’s discretion. The company does not expect to incur debt to fund the share repurchase program.
As a result of the renewal of its NCIB and in addition to shares repurchased under the company’s previous NCIB, TerrAscend is authorized to repurchase up to 10 million of the company’s shares over the 12-month period, which represents 4.73% of the public float based on 306,240,023 total shares outstanding as of Aug. 14, 2025.
There is a daily repurchase restriction of 60,255 shares, which represents 25% of the company’s average daily trading volume on the TSX of 241,023 shares. Shares may be purchased on the TSX, the OTCQX Best Market, or alternative trading systems and will be subject to the limitations and rules imposed by U.S. and Canadian securities regulations.
The actual number of shares purchased, timing of purchases and share price will depend upon market conditions at the time and securities law requirements. All shares acquired will be returned to the treasury and canceled.
