JW Asset Management completes a pro-rata distribution in kind of common shares to investors in JW Select Investments, LP and JW Opportunities Fund, LLC

NEW YORK, Dec. 28, 2022 /CNW/ - JW Asset Management, LLC ("JW") as adviser to several funds, has completed a pro-rata distribution in kind of 2,149,847 common shares of TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) ("TerrAscend") ("Distribution").

JW distributed these common shares to certain fund investors to facilitate planned redemptions of the distributees' respective interests in JW Select Investments, LP and JW Opportunities Fund, LLC, which effectively lowered the holdings of JW in TerrAscend Common Shares. The distributions were offered to all investors in both advised funds. Jason Wild elected to maintain his full investment in all advised funds, and as such did not receive a distribution as part of this transaction.

As a result of the Distribution, JW and its joint actors, now own or exercise control or direction over (a) 88,210,776 common shares of TerrAscend (b) 7,129,517 warrants to acquire common shares of TerrAscend (c) 10,000 convertible preferred shares (d) 10,000 warrants to acquire convertible preferred shares (e) 1,200,000 options to acquire common shares and (f) 239,881 restricted stock units.

As a result of the Distribution and issuance from treasury by TerrAscend, JW and its joint actors now own or exercise control or direction over securities carrying 40.59% of the total voting power attached to all TerrAscend securities on a partially diluted basis (assuming conversion of only the TerrAscend convertible securities owned or over which JW or its joint actors exercise control or direction and no others).

Prior to the issuances from treasury by TerrAscend, and prior to the pro-rata distribution in kind of common shares to investors on December 23, 2022, for TerrAscend common shares, JW and its joint actors owned or exercised control or direction over securities carrying 44.02% of the total voting power attached to all TerrAscend securities on a partially diluted basis (assuming conversion of only the TerrAscend convertible securities owned or over which JW or its joint actors exercise control or direction and no others).

This press release is being issued pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning report for the above-named companies, which will be filed on www.sedar.com, please contact: Jason Klarreich, Chief Financial Officer at [email protected].

SOURCE JW Asset Management, LLC

Jason Klarreich, Chief Financial Officer at [email protected]