What is a normal course issuer bid (NCIB)?

An NCIB is a Canadian regulatory mechanism that allows a publicly listed company to repurchase its own shares on the open market without prior shareholder approval. It operates under prescribed daily volume limits, typically 25% of average daily trading volume. TerrAscend's daily limit is 58,784 shares based on recent trading patterns on the TSX.

How much did TerrAscend repurchase under the prior NCIB?

Under the previous NCIB (August 22, 2025 to August 21, 2026), TerrAscend repurchased 653,500 shares for approximately $417,371 USD at a volume-weighted average price of $0.64 per share. All repurchased shares were cancelled and returned to treasury.

What percentage of outstanding shares can TerrAscend repurchase under this authorization?

The renewed NCIB authorizes repurchase of up to 10 million shares, which represents 3.23% of the 309,175,647 shares outstanding as of August 13, 2026. The program is discretionary and the company is under no obligation to purchase any shares.

Is TerrAscend planning to borrow to fund this repurchase program?

No. The company explicitly stated it does not expect to incur debt to fund the share repurchase program. Purchases will be funded from existing cash reserves at management's discretion.

Why is TerrAscend authorizing a $10 million repurchase program?

Executive Chairman Jason Wild stated the company believes TerrAscend's shares trade at a substantial discount to intrinsic value, given the company's cash flow generation and emerging catalysts in the U.S. cannabis industry, including federal cannabis reform and potential U.S. stock exchange listing opportunities. At current valuations, management views repurchases as an attractive capital deployment option.

What can TerrAscend do with this authorization if it decides not to use it?

The NCIB is entirely discretionary. TerrAscend can suspend or terminate the program at any time and redeploy capital to other priorities, such as business investments or strategic opportunities, if management determines those uses offer superior returns.

TSNDF 8-K Filed 2026-08-24 New authorization

TerrAscend authorizes $10M share repurchase program renewal

Cannabis company renews normal course issuer bid; previous program repurchased 653,500 shares at $0.64 average

Authorization$10M

Authorization (shares)10.0M

MechanismNormal Course Issuer Bid (NCIB

What the filing says

TerrAscend Corp. (OTCQX: TSNDF) announced on August 20, 2026, that its Board of Directors has authorized the renewal and replenishment of its normal course issuer bid (NCIB) to repurchase up to USD $10 million of the Company's common shares over a 12-month period beginning August 24, 2026, and ending no later than August 23, 2027.

Under the previous NCIB that commenced August 22, 2025, TerrAscend repurchased a total of 653,500 shares for cancellation at an aggregate cost of approximately $417,371 USD (CAD$579,165) and a volume-weighted average price of $0.64 USD (CAD$0.89) per share. The prior authorization permitted the purchase of up to 10,000,000 shares and expired August 21, 2026.

Under the renewed NCIB, TerrAscend is authorized to repurchase up to 10,000,000 shares, representing 3.23% of the 309,175,647 outstanding shares as of August 13, 2026. The daily repurchase limit is 58,784 shares, representing 25% of average daily trading volume on the Toronto Stock Exchange. Shares will be purchased on the TSX, OTCQX, or alternative trading systems and all acquired shares will be cancelled. ATB Cormark Capital Markets has been re-appointed as the designated broker to conduct NCIB transactions.

Executive Chairman Jason Wild stated that the company believes TerrAscend's shares trade at a discount to intrinsic value and that at current valuations, repurchasing shares represents an attractive use of capital. The company is under no obligation to purchase any shares and may suspend or terminate the program at any time at management's discretion. TerrAscend does not expect to incur debt to fund the repurchase program.

Its Board of Directors has authorized the Company to renew and replenish its normal course issuer bid ("NCIB") to repurchase up to USD $10 million of the Company's common shares ("Shares"), from time to time over a 12-month period. — TerrAscend Corp. 8-K filing · View on SEC EDGAR →

What this means

TerrAscend's renewal of its $10 million NCIB provides flexibility to deploy capital through opportunistic share repurchases on the open market. The prior program repurchased 653,500 shares (0.21% of shares outstanding), suggesting modest execution relative to authorization. At the $10 million cap and current $0.64 average price, the renewed authorization could support repurchase of approximately 15.6 million shares, though the actual share count authorized under the NCIB is capped at 10 million shares (3.23% of outstanding). The program reflects management's view that market valuation undervalues the business, though execution remains discretionary and dependent on market conditions and capital priorities.

Frequently asked questions

What is a normal course issuer bid (NCIB)?: An NCIB is a Canadian regulatory mechanism that allows a publicly listed company to repurchase its own shares on the open market without prior shareholder approval. It operates under prescribed daily volume limits, typically 25% of average daily trading volume. TerrAscend's daily limit is 58,784 shares based on recent trading patterns on the TSX.
How much did TerrAscend repurchase under the prior NCIB?: Under the previous NCIB (August 22, 2025 to August 21, 2026), TerrAscend repurchased 653,500 shares for approximately $417,371 USD at a volume-weighted average price of $0.64 per share. All repurchased shares were cancelled and returned to treasury.
What percentage of outstanding shares can TerrAscend repurchase under this authorization?: The renewed NCIB authorizes repurchase of up to 10 million shares, which represents 3.23% of the 309,175,647 shares outstanding as of August 13, 2026. The program is discretionary and the company is under no obligation to purchase any shares.
Is TerrAscend planning to borrow to fund this repurchase program?: No. The company explicitly stated it does not expect to incur debt to fund the share repurchase program. Purchases will be funded from existing cash reserves at management's discretion.
Why is TerrAscend authorizing a $10 million repurchase program?: Executive Chairman Jason Wild stated the company believes TerrAscend's shares trade at a substantial discount to intrinsic value, given the company's cash flow generation and emerging catalysts in the U.S. cannabis industry, including federal cannabis reform and potential U.S. stock exchange listing opportunities. At current valuations, management views repurchases as an attractive capital deployment option.
What can TerrAscend do with this authorization if it decides not to use it?: The NCIB is entirely discretionary. TerrAscend can suspend or terminate the program at any time and redeploy capital to other priorities, such as business investments or strategic opportunities, if management determines those uses offer superior returns.

authorization NCIB cannabis-sector renewal normal-course-issuer-bid Canada-listed

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.