US EditionLansing Cannabis Retailer to Close. When Gage Will Shut Down
MICHIGAN, UNITED STATES, JUN 30 – TerrAscend will divest all Michigan assets, cutting about 21% of its workforce to focus on more profitable U.S. and Canadian markets, improving financial margins and operational efficiency.
- On June 30, 2025, TerrAscend announced its exit from the Michigan cannabis market, planning to divest four cultivation and processing facilities, twenty retail dispensaries, and related real estate.
- Following its strategic review, TerrAscend leadership cited unsustainable market conditions in Michigan, including oversupply and falling prices, as the primary reasons for the decision to exit.
- TerrAscend plans a 21% workforce reduction affecting about 250 employees, using divestment proceeds to pay down debt.
- Beginning with Q2 2025, TerrAscend will report Michigan operations as discontinued, expected to significantly improve its financial profile.
- TerrAscend plans to complete its Michigan market exit by late 2025, focusing on five U.S. states and Toronto with 19 dispensaries and four facilities remaining.
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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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