Canadian weed producer Gage Growth up on $545 mln buyout by TerrAscend

Whats Cooking NV

01/09/2021 15:46

** Canadian cannabis producer Gage Growth Corp's  GAGE.CD 
shares rise 4% to $2.35 as U.S. rival TerrAscend  TER.CD  will
buy it for about $545 mln, or C$2.66 ($2.11) per share
 urn:newsml:reuters.com:*:nL1N2Q314W
    ** Backed by prominent cannabis investor Jason Wilde, the
deal represents 17.7% premium to GAGE's closing price on the
Canadian Securities Exchange on Tuesday
    ** Cos say GAGE shareholders will get 0.3001 share of TER
for each GAGE share they hold
    ** Combined co will have operations in five U.S. states and
Canada
    ** Up to Tuesday's close, GAGE had fallen 21.8% from its
first closing price of C$2.89 ($2.29) in April; TER had fallen
30.2% YTD

($1 = 1.2610 Canadian dollars)

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))