TORONTO, May 9, 2017 – TerrAscend Corp. (CSE: “TER”) (“TerrAscend” or the “Company”), is pleased to announce the appointment of Ms. Rebecca Hudson as the Company’s Chief Financial Officer (“CFO”), subject to applicable regulatory and exchange approvals. Ms. Hudson brings strong experience in the areas of corporate finance, compliance, risk management, financial reporting and planning. Before joining TerrAscend, Rebecca served as CFO of Hornby Bay Mineral Exploration Ltd. Prior to her role at Hornby, Rebecca served as CFO for several publicly-listed mining and exploration companies. She is a Chartered Professional Accountant (“CPA”) and earned her Master’s Degree in Accounting from the University of Waterloo.
“Rebecca’s experience and acumen with respect to financial management and public company accounting make her a great addition to the executive team at TerrAscend,” said Basem Hanna, President and Chief Executive Officer. “As a newly-listed public company, her financial background across various public companies and industries will assist us in executing on our growth strategy.”
The Company also announces that Jonathan Leong has resigned from the position of Interim CFO as of May 8, 2017. The Company thanks Mr. Leong for his contributions during his appointment and wishes him all the best with his future endeavors.
Stock Option Grant
On May 9, 2017, the Company granted options to certain employees and consultants of the Company to purchase an aggregate of 920,000 Common Shares at a weighted average exercise price of $1.15 per Common Share for periods expiring between one to five years from the date of grant, and vesting over certain defined periods and upon the achievement of certain predetermined corporate milestones. The stock options are being granted pursuant to the terms of the Company’s stock option plan.