North American cannabis operator TerrAscend Corp. (OTC: TRSSF) announced this week it will open its Apothecarium branded dispensaries in two Pennsylvania locations: Lancaster and Plymouth Meeting.
The Apothecarium in Lancaster will be a 4,300 square-foot dispensary, with a grand opening scheduled for mid-April. This dispensary will cary a wide range of medical cannabis products manufactured and sold under TerrAscend’s recently acquired Ilera brand, including flower, concentrates, capsules and more.
The Plymouth Meeting dispensary is currently an Ilera Healthcare Dispensary, and will reopen as The Apthecarium in April as well. The Plymouth Meeting location, housed in a former bank, recently opened Pennsylvania's first drive-through pick up to allow patients to access their medicine while maintaining physical distancing.
The opening of these new retail locations comes as TerrAscend increases its cultivation and manufacturing capabilities in Pennsylvania. The company currently supplies its products to 65 of the 76 dispensaries in the state.
To service increased demand for its wholesale business, TerrAscend has recently tripled its cultivation footprint and has hired 30 new positions. The company plans to actively recruit employees for cultivation and manufacturing, as well as for the new Apothecarium retail locations.
This announcement coincides with residents across the state facing a public health crisis with the recent outbreak of COVID-19. Both Pennsylvania retail facilities are classified as "essential services" and will remain open under local and state guidelines to serve patients.
"TerrAscend is thrilled to bring its best-in-class retail experience to patients on the East Coast. The Apothecarium is a proven, progressive retail model with integrated e-commerce services and pick-up programs that is well-positioned to serve the robust Pennsylvania market. We look forward to continuing our expansion across the area with the Apothecarium brand," Jason Ackerman, executive chairman of TerrAscend said in a prepared statement.
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