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TerrAscend Announces Strategic Exit from Michigan Market - TerrAscend (OTC:TSNDF)
- TerrAscend Corp announced on June 30, 2025, that it will exit the Michigan cannabis market by the second half of 2025.
- The company made this decision after an extensive review found Michigan to be an extremely difficult market with unsustainable conditions.
- TerrAscend plans to exit the Michigan market by selling all its assets there, which include 20 retail locations and four facilities for cultivation and processing, while also reducing its workforce by 21%.
- Executive Chairman Jason Wild noted that due to the challenges in Michigan, the company has decided to focus its efforts and assets on other regions where they can achieve greater efficiency and value.
- The company anticipates that exiting the Michigan market will enhance its overall financial results and streamline operations, using the funds from the sale to reduce existing debt and concentrate on its primary northeastern U.S. states and Toronto.
18 Articles
18 Articles
TerrAscend Announces Strategic Exit from Michigan Market - TerrAscend (OTC:TSNDF)
Net Proceeds from divestitures to pay down Company debt Enables concentrated growth and improved profitability in core markets TORONTO, June 30, 2025 (GLOBE NEWSWIRE) -- TerrAscend Corp. ("TerrAscend") (TSX:TSND, OTCQX:TSNDF), a leading North American cannabis company, today announced that it has completed a strategic review of its Michigan business operations and decided to exit the Michigan market. As part of the exit plan, TerrAscend and its …
TerrAscend Announces Exit from Michigan Market
TORONTO, Canada – TerrAscend Corp.announced in a press release on June 30 that it has completed a strategic review of its Michigan business operations and decided to exit the Michigan market. “After an extensive evaluation, we have made the strategic decision to exit the Michigan market,” said Jason Wild, Executive Chairman of TerrAscend. “Michigan is an extremely difficult market and we have come to the realization that our resources can be bet…
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