[PRESS RELEASE] – TORONTO, Aug. 20, 2025 – TerrAscend Corp. announced its Board of Directors authorized to extend and renew its Normal Course Issuer Bid (NCIB) for repurchases of up to USD $10,000 million in common shares of the Company, over a period of 12 months.
TerrAscend’s Executive Chairman Jason Wild stated, “We think our shares are a compelling investment at the current level, particularly in light of federal regulation momentum.” This program gives us the freedom to invest our capital as we see fit, while focusing on operating excellence and revenue growth.
According to a prior NCIB that began on August 22, 2024 the company bought for cancellation a sum of 1,279 400 shares through the Toronto Stock Exchange or any other permitted method, at an aggregate repurchase of about $616,000 ($855,000 CAD) and a volume-weighted average of purchase of $0.47 per share. This previous NCIB allowed the company to purchase up to 10,000,000 shares. It will expire in 2025.
At the end of 2025 there were still 306 millions shares. The company does not have to buy any shares, even though the period to purchase shares begins on August 22, 2025 and ends at the latest Aug. 21, 2020. TerrAscend is not obligated to buy shares if management decides that it can better utilize its cash reserves. Share purchases can be stopped or suspended at TerrAscend’s discretion at any point. It is not expected that the company will incur debt in order to finance its share repurchase plan.
TerrAscend, as a result the renewal of their NCIB in addition to the shares purchased under the previous NCIB of the company, is now authorized to purchase up to 10,000,000 shares of TerrAscend over a 12-month period. This represents 4.7% of the total outstanding shares of 306,240.023, as at August 14, 2025.
A daily limit of 60,255 share repurchases is in place. This represents 25 percent of the daily average volume traded by the company at the TSX (241,023 stocks). The shares can be bought on the TSX or the OTCQX Best Market and are subject to all the rules and limitations imposed by U.S. securities laws and Canadian securities law.
Market conditions, securities laws and the timing and price of purchase will determine how many shares are purchased. All acquired shares will be returned and cancelled.