TerrAscend has renewed its share repurchase program, authorizing up to $10 million in common stock buybacks over the next 12 months as the company points to federal marijuana reform and the prospect of a major U.S. stock exchange listing as potential catalysts.
The company said its board approved the renewal and replenishment of its normal course issuer bid, allowing TerrAscend to repurchase up to 10 million shares. Purchases may begin August 24 and continue through August 23, 2027.
Executive Chairman Jason Wild said the company believes its stock is trading “at a substantial discount to their intrinsic value,” citing TerrAscend’s operating performance, cash flow generation and developments in the U.S. marijuana industry.
“The progress we have seen on federal cannabis reform and toward a major U.S. stock exchange listing has only strengthened our conviction in the long-term opportunity ahead,” Wild said. He added that the company views repurchasing shares at current valuations as an attractive use of capital while continuing to consider investments and other strategic opportunities.
TerrAscend’s previous buyback program, which began in August 2025, resulted in the repurchase and cancellation of 653,500 shares for approximately CAD$579,165, or about $417,000. The shares were purchased at a volume-weighted average price of CAD$0.89, or about $0.64.
As of August 13, TerrAscend had roughly 309.2 million shares outstanding. The renewed authorization represents about 3.23% of those shares.
The company said it does not plan to take on debt to finance the buybacks and is not obligated to repurchase any shares. Purchases may be suspended or ended if management determines cash can be better deployed elsewhere.
TerrAscend operates marijuana businesses in Pennsylvania, New Jersey, Maryland, Ohio and California, along with retail operations in Canada. Its brands include The Apothecarium, Kind Tree, Legend, State Flower, Wana and Valhalla.
