11:03 AM EDT, 05/06/2025 (MT Newswires) -- TerrAscend ( TSNDF ) down 7.3% on last look, on Tuesday said it has signed an agreement to operate its fourth dispensary in New Jersey.

Union Chill Cannabis Company, a single dispensary operator in Hunterdon County, is expected to be immediately accretive to TerrAscend ( TSNDF ) on an EBITDA and cashflow basis. The closing remains subject to regulatory approval.

"Union Chill is a strong performer, generating more than $11 million in annualized revenue from its location in Hunterdon County," said Jason Wild, executive chairman. "We see a clear opportunity to enhance sales and margins by introducing our portfolio of premium brands, including Kind Tree, Legend, Valhalla, Cookies, and Wana."

TerrAscend ( TSNDF ) says it is "actively" evaluating additional expansion opportunities in New Jersey and expect to sign multiple additional transactions by the end of this year. The company confirms it is on track with the expansion of cultivation and manufacturing capacity at its Boonton facility, to better meet the increased demand from both the expansion in the retail footprint growing wholesale business.

TerrAscend ( TSNDF ) was last seen down $0.04 to $0.51 on the Toronto Stock Exchange.

Price: 0.52, Change: -0.04, Percent Change: -6.36