Acquisitions (Tables)
|
6 Months Ended |
Jun. 30, 2023 |
Business Acquisition [Line Items] |
|
Schedule of Balances of Contingent Consideration |
The balance of contingent consideration is as follows:
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State Flower |
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Apothecarium |
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Pinnacle |
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Total |
|
Carrying amount, December 31, 2022 |
|
$ |
1,406 |
|
|
$ |
3,028 |
|
|
$ |
750 |
|
|
$ |
5,184 |
|
Payments of contingent consideration |
|
|
— |
|
|
|
— |
|
|
|
(750 |
) |
|
|
(750 |
) |
Carrying amount, June 30, 2023 |
|
$ |
1,406 |
|
|
$ |
3,028 |
|
|
|
— |
|
|
$ |
4,434 |
|
Less: current portion |
|
|
(1,406 |
) |
|
|
(3,028 |
) |
|
|
— |
|
|
|
(4,434 |
) |
Non-current contingent consideration |
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|
— |
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|
— |
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|
— |
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|
— |
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|
AMMD |
|
Business Acquisition [Line Items] |
|
Fair Value of Assets Acquired and Liabilities Assumed |
The following table presents the fair value of assets acquired and liabilities assumed as of the January 27, 2023 acquisition date and allocation of the consideration to net assets acquired:
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|
|
|
Cash and cash equivalents |
|
$ |
20 |
|
Inventory |
|
|
303 |
|
Prepaid expense |
|
|
4 |
|
Operating right of use asset |
|
|
781 |
|
Fixed assets |
|
|
416 |
|
Intangible asset |
|
|
5,330 |
|
Goodwill |
|
|
6,005 |
|
Accounts payable and accrued liabilities |
|
|
(135 |
) |
Deferred tax liability |
|
|
(2,021 |
) |
Corporate income taxes payable |
|
|
(291 |
) |
Operating lease liability |
|
|
(781 |
) |
Net assets acquired |
|
$ |
9,631 |
|
|
|
|
|
Cash |
|
|
10,000 |
|
Working capital adjustment |
|
|
(369 |
) |
Total consideration |
|
$ |
9,631 |
|
|
Peninsula |
|
Business Acquisition [Line Items] |
|
Fair Value of Assets Acquired and Liabilities Assumed |
The following table presents the fair value of assets acquired and liabilities assumed as of the June 28, 2023 acquisition date and allocation of the consideration to net assets acquired:
|
|
|
|
|
Inventory |
|
$ |
370 |
|
Prepaid expense |
|
|
371 |
|
Operating right of use asset |
|
|
1,168 |
|
Fixed assets |
|
|
68 |
|
Intangible asset |
|
|
21,800 |
|
Goodwill |
|
|
683 |
|
Accounts payable and accrued liabilities |
|
|
(1,123 |
) |
Loans payable |
|
|
(7,807 |
) |
Operating lease liability |
|
|
(1,168 |
) |
Net assets acquired |
|
$ |
14,362 |
|
|
|
|
|
Cash |
|
|
1,500 |
|
Common shares of TerrAscend |
|
|
9,524 |
|
Loans payable |
|
|
3,927 |
|
Working capital adjustment |
|
|
(589 |
) |
Total consideration |
|
$ |
14,362 |
|
|
Blue Ridge |
|
Business Acquisition [Line Items] |
|
Fair Value of Assets Acquired and Liabilities Assumed |
The following table presents the fair value of assets acquired and liabilities assumed as of the June 30, 2023 acquisition date and allocation of the consideration to net assets acquired:
|
|
|
|
|
Inventory |
|
$ |
234 |
|
Prepaid expense |
|
|
192 |
|
Operating right of use asset |
|
|
2,325 |
|
Intangible asset |
|
|
6,410 |
|
Goodwill |
|
|
2,936 |
|
Deferred tax liability |
|
|
(2,653 |
) |
Accounts payable and accrued liabilities |
|
|
(931 |
) |
Operating lease liability |
|
|
(2,325 |
) |
Net assets acquired |
|
$ |
6,188 |
|
|
|
|
|
Cash |
|
|
3,000 |
|
Loans payable |
|
|
3,750 |
|
Working capital adjustment |
|
|
(562 |
) |
Total consideration |
|
$ |
6,188 |
|
|