Cannabis firm TerrAscend posts loss; net sales to grow to CA$192M for 2020
In a press release, TerrAscend said it anticipates net sales and adjusted EBITDA of at least CA$192 million and CA$45 million, respectively, for the full 2020 fiscal year.
“The outlook is driven by the company’s continued emphasis on further expansion of its most profitable business in Pennsylvania and ramp up and further expansion of its retail footprint in Pennsylvania, New Jersey, and California while maintaining a tight overall focus on costs,” said the press release.
TerrAscend reported cash and cash equivalents of about CA$74.8 million as of June 30.