TerrAscend Corp 10-K/A, filed Mar 24, 2022
TerrAscend Corp. (TSNDF)
About this 10-K/A
TerrAscend Corp filed this 10-K/A on March 24, 2022, covering the fiscal year ended December 31, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Amendment No. 1)
(Mark One)
| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2021
`
OR
| ¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO |
Commission File No. 000-56363
TERRASCEND CORP.
(Exact name of Registrant as specified in its Charter)
| Ontario | N/A |
|
(State or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification No.) |
|
3610 Mavis Road Mississauga, Ontario |
L5C 1W2 |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (855) 837-7295
Securities registered pursuant to Section 12(b) of the Act:
None
Securities registered pursuant to Section 12(g) of the Act:
Common Shares
(Title of class)
Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¨ No x
Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ¨ No x
Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ¨ No x
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes x No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ¨ | Accelerated filer | ¨ | |||
| Non-accelerated filer | x | Smaller reporting company | ¨ | |||
| Emerging growth company | x |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ¨
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x
The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant computed by reference to the closing price as reported on the Canadian Stock Exchange on June 30, 2021 (the last business day of the Registrant’s most recently completed second fiscal quarter) was, on an as-converted basis, $2,720,645,057.
The number of shares of Registrant’s Common Shares outstanding as of March 15, 2022 was 251,863,097.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Registrant’s definitive Proxy Statement relating to the 2022 Annual Meeting of Shareholders (the “Proxy Statement”) are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the Registrant’s fiscal year ended December 31, 2021.
EXPLANATORY NOTE
This Amendment No. 1 on Form 10-K/A (this “Amendment”) is being filed for the year ended December 31, 2021, solely to file Exhibit 23.1 (auditor’s consent), which was inadvertently omitted from the Registrant’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 17, 2022 (the “Original Form 10-K”).
Except as otherwise expressly noted herein, this Amendment does not modify or update in any way the information contained in, including the exhibits thereto, the Original Form 10-K, nor does it reflect events occurring after the filing of the Original Form 10-K. Accordingly, this Amendment should be read in conjunction with the Original Form 10-K.
In addition, as required by Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Amendment also includes new certifications from the registrant’s principal executive officer and principal financial officer pursuant to Section 302 of the Sabarnes-Oxley Act of 2002.
PART IV
| ITEM 15. | EXHIBITS, FINANCIAL STATEMENT SCHEDULES |
Financial Statements
The consolidated financial statements of the registrant are listed in the index to the consolidated financial statements and filed under Item 8 of this Annual Report.
Financial Statement Schedules
Not Applicable
Exhibits
* Certain confidential information has been excluded from this exhibit because it is both (i) not material and (ii) is the type of information of the Company treats as private or confidential.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TERRASCEND CORP. (Registrant) | ||
| Date: March 24, 2022 | By: | /s/ Keith Stauffer |
| Keith Stauffer | ||
| Chief Financial Officer | ||
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the Registration Statement No. 333-262566 on Form S-8, of our auditor’s report dated March 17, 2022 with respect to the consolidated financial statements of TerrAscend Corp. (and its subsidiaries) as of December 31, 2021 and 2020 and for each of the three years in the period ended December 31, 2021, as included in the Annual Report on Form 10-K of TerrAscend Corp. for the year ended December 31, 2021, as filed with the United States Securities and Exchange Commission.
/s/ MNP LLP
Chartered Professional Accountants
Licensed Public Accountants
March 24, 2022
Toronto, Canada
Exhibit 31.3
Certification of Principal Executive Officer Pursuant to Exchange Act Rule 13a-14(a)/15d-14(a)
as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Jason Wild, certify that:
| 1. | I have reviewed this Annual Report on Form 10-K/A for the year ended December 31, 2021 of TerrAscend Corp.; | |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report. |
| Date: March 24, 2022 | |
| /s/ Jason Wild | |
| Jason Wild | |
| Executive Chairman | |
| (Principal Executive Officer) |
Exhibit 31.4
Certification of Principal Financial Officer Pursuant to Exchange Act Rule 13a-14(a)/15d-14(a)
as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Keith Stauffer, certify that:
| 1. | I have reviewed this Annual Report on Form 10-K/A for the year ended December 31, 2021 of TerrAscend Corp.; | |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report. |
| Date: March 24, 2022 | |
| /s/ Keith Stauffer | |
| Keith Stauffer | |
| Chief Financial Officer | |
| (Principal Financial Officer) |