---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-026270"
form_type: "8-K"
ticker: "TSNDF"
cik: "0001778129"
company_name: "TerrAscend Corp."
filed_at: "2022-12-09T23:59:59+00:00"
generated_at: "2026-06-21T06:52:35.282091+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TerrAscend settles $20M USD and CAD 93.7M debt with Canopy USA; issues exchangeable shares and warrants

## Summary
- Extinguished $20M USD non-convertible debenture from Arise Bioscience and CAD 80.5M + CAD 13.2M obligations from TerrAscend Canada.
- Cancelled existing TerrAscend warrants to purchase 22,474,130 common shares at CAD $3.74-$17.19.
- Issued 24,601,467 new exchangeable shares (exchangeable 1:1 for common upon federal legalization or exchange policy change).
- Issued new warrants to purchase 22,474,130 common shares at CAD $3.74-$17.19, expiring December 31, 2032.

## SEC filing metadata
- accession: 0000950170-22-026270
- form_type: 8-K
- ticker: TSNDF
- cik: 0001778129
- company_name: TerrAscend Corp.
- filed_at: 2022-12-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778129/000095017022026270/0000950170-22-026270-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778129/000095017022026270/trssf-20221209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-026270
- JSON: https://secwatch.observer/filing/0000950170-22-026270.json
- Plain text: https://secwatch.observer/filing/0000950170-22-026270.txt

## Key facts
- Material Agreements
  TerrAscend Corp. entered into Debt Settlement Agreement with Canopy USA, LLC, Canopy USA I Limited Partnership and Canopy USA III Limited Partnership (effective 2022-12-09).
  - Action: entry
  - Agreement: settlement
  - Counterparty: Canopy USA, LLC, Canopy USA I Limited Partnership and Canopy USA III Limited Partnership
  - Effective: 2022-12-09
  source text: On December 9, 2022, TerrAscend Corp., an Ontario corporation (“TerrAscend”), Arise Bioscience, Inc. (“Arise”), a Delaware corporation and a wholly-owned subsidiary of TerrAscend and TerrAscend Canada Inc. (“TerrAscend Canada”), an Ontario corporation and wholly-owned subsidiary of TerrAscend (collectively, the “Debt Issuers”), entered into a Debt Settlement Agreement (the “Debt Settlement Agreement”) with Canopy USA, LLC (“Canopy USA”), Canopy USA I Limited Partnership and Canopy USA III Limited Partnership (collectively, the “Canopy USA Entities”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778129/000095017022026270/0000950170-22-026270-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.