Author: Margaret Jackson

MSO TerrAscend acquires marijuana stores in Ohio, New Jersey

Written by Margaret Jackson on . Posted in Canada. Leave a Comment

TerrAscend Corp. has closed on its acquisition of Ohio retailer Ratio Cannabis for $10.3 million, marking the marijuana multistate operator ’s entry into its sixth state.

The previously announced acquisition increases TerrAscend’s retail footprint to 39 states in six states and Canada, according to a company news release.


TerrAscend, which has offices in Toronto and King of Prussia, Pennsylvania, plans to acquire additional outlets in Ohio.

“Entering Ohio has long been a priority for us,” TerrAscend Executive Chair Jason Wild said in a statement about acquiring the store in Goshen Township, a Cincinnati suburb.

“This acquisition is a great first step in Ohio, and we will continue to aggressively pursue additional accretive dispensary acquisitions up to the eight-dispensary state limit.”

TerrAscend has been on an acquisition spree.

Earlier this month, the MSO signed an agreement to acquire Union Chill Cannabis Co., its fourth New Jersey store.

The outlet, located in Hunterdon County near Lambertville, generates more than $11 million in annualized revenue, according to a separate release.

Meanwhile, TerrAscend last week reported first-quarter net revenue of $71 million, down 4.5% from $74.4 million in the fourth quarter of 2024.

The company’s shares trade on the Toronto Stock Exchange as TSND.

Cannabis operator Canopy Growth hit with class action lawsuit

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Investors in cannabis operator Canopy Growth Corp. have sued the company to recover alleged damages after a poor quarterly earnings report.

The class action lawsuit – filed in April by shareholders who purchased Canopy stocks between May 30, 2024, and Feb. 6, 2025 – followed a sharp decline in the value of the company’s shares revealed in a Feb. 7 earnings report.


At the heart of the investor dispute are allegations that Canopy downplayed the costs of launching a new pre-roll line and of acquiring a major vaporizer company.

According to court records, the complaint alleges that Canopy made false and misleading statements about its business, operations and prospects by failing to disclose:

  • Significant costs producing a line of pre-rolled joints under the Claybourne brand that launched in Canada in November.
  • Costs incurred in connection with the 2018 acquisition of major vaporizer company Storz & Bickel were likely to have a negative impact on the company’s gross margins and overall financial results.

The current lead plaintiff in the proposed class action suit is Bruce Baron.

The suit names former company CEO David Klein, who retired in March, and Chief Financial Officer Judy Hong as defendants.

The company has until June to respond to the suit in full, according to court documents.

On Feb. 7, before the market opened, Canopy issued a news release announcing its financial results for the third quarter.

The company reported that its “(g)ross margin decreased by 400 basis points to 32%” in the third quarter of 2025 compared to the same period a year ago because of costs related to the Claybourne launch in Canada and an increase in the costs of the Storz & Bickel vaporizers.

During a conference call later that day, Hong said the company’s Claybourne product launch costs were “primarily attributable to (the) higher initial cost to product Claybourne” products.

Hong also attributed the “indirect costs” related to Storz & Bickel devices to shipping.

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As a result, Canopy’s common share price fell 76 cents per share, or 27.34%, to close at $2.02 on Feb. 7.

Canopy shares trade on the Nasdaq as CGC and on the Toronto Stock Exchange as WEED.

Shares were trading around $1.32 around midday Friday.

Tilray is exiting New Zealand’s medical cannabis market to focus on Australia

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Tilray Medical is leaving New Zealand’s medical cannabis market to focus on its MMJ operations in Australia.

The Sydney-based medical cannabis company said its final day operating in New Zealand will be May 31, according to The Post.


Tilray Medical is a division of Canadian operator Tilray Brands, which has offices in Leamington, Ontario, and New York.

“Our priority is to manage this transition effectively, minimizing any disruption and ensuring Tilray patients in New Zealand have access to necessary treatments during and after the transition period,” Tilray Medical, the first medical cannabis company to operate in New Zealand, told The Post in a statement.

The company, which reported international sales of $13.9 million during the three months ended Feb. 28, said no Tilray employees were impacted by the decision to exit the market.

Sally King, executive director of the New Zealand Medical Cannabis Council, said patients still have options for obtaining medical marijuana products, including Canada-based Aurora Cannabis.

“Aurora is in the process of really establishing themselves in the New Zealand market,” King told The Post.

“It’s a real sign of confidence in the New Zealand market that they want to be here.”

Aurora sold more than $11 million worth of products in Australia and New Zealand last year, according to the New Zealand-based news outlet.

Tilray Medical recently started selling medical cannabis edibles to patients in Australia.

Tilray Brands trades as TLRY on the Nasdaq and Toronto Stock Exchange.

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