Cannabis dispensary under sales agreement for $11.7M

The Allegany Medical Marijuana Dispensary is under contract to be sold to the Canada-based TerrAscend Corp. in a deal totaling $11.7 million. A sales agreement has been signed by representatives of TerrAscend and George Merling, the current owner of the dispensary. Located at 100 Beall St. in Cumberland, the dispensary opened in December 2017 after being licensed by the Maryland Medical Marijuana Commission. Under terms of the agreement, TerrAscend will acquire 100% equity interest in the dispensary for $10 million in cash, in addition to acquiring the real estate for $1.7 million.