TerrAscend Corp.

TerrAscend Corp.

May 09, 2017 18:59 ET

TerrAscend Announces Appointment of Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - May 9, 2017) -


TerrAscend Corp. (CSE:TER)(CSE:TER.CN)(CNSX:TER) ("TerrAscend" or the "Company"), is pleased to announce the appointment of Ms. Rebecca Hudson as the Company's Chief Financial Officer ("CFO"), subject to applicable regulatory and exchange approvals. Ms. Hudson brings strong experience in the areas of corporate finance, compliance, risk management, financial reporting and planning. Before joining TerrAscend, Rebecca served as CFO of Hornby Bay Mineral Exploration Ltd. Prior to her role at Hornby, Rebecca served as CFO for several publicly-listed mining and exploration companies. She is a Chartered Professional Accountant ("CPA") and earned her Master's Degree in Accounting from the University of Waterloo.

"Rebecca's experience and acumen with respect to financial management and public company accounting make her a great addition to the executive team at TerrAscend," said Basem Hanna, President and Chief Executive Officer. "As a newly-listed public company, her financial background across various public companies and industries will assist us in executing on our growth strategy."

The Company also announces that Jonathan Leong has resigned from the position of Interim CFO as of May 8, 2017. The Company thanks Mr. Leong for his contributions during his appointment and wishes him all the best with his future endeavors.

Stock Option Grant

On May 9, 2017, the Company granted options to certain employees and consultants of the Company to purchase an aggregate of 920,000 Common Shares at a weighted average exercise price of $1.15 per Common Share for periods expiring between one to five years from the date of grant, and vesting over certain defined periods and upon the achievement of certain predetermined corporate milestones. The stock options are being granted pursuant to the terms of the Company's stock option plan.

About TerrAscend

Based in Mississauga, ON, TerrAscend is a vertically-integrated Canadian cannabis company that strives to create and deliver quality products and services that meet the evolving needs of the medical cannabis market. TerrAscend's wholly-owned subsidiary, Solace Health Inc., is in the final stage of its application for licensing under the Access to Cannabis for Medical Purposes Regulations.

Forward-looking statements

This news release contains "forward-looking information" within the meaning of applicable securities laws. Although TerrAscend believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because TerrAscend can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. TerrAscend undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of TerrAscend, its securities, or financial or operating results (as applicable). TerrAscend disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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