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TerrAscend's NJ Greenhouse Receives Cultivation License

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TerrAscend's NJ Greenhouse Receives Cultivation License

TerrAscend Corp.’s (CSE: TER) (OTCQX: TRSSF) facility in Boonton, New Jersey received a green light for cannabis cultivation.

The Mississauga, Canada-based cannabis company obtained the New Jersey Department of Health’s approval to commence operations in its 37,000 square foot greenhouse.

In addition, it’s the first facility approved for medical cannabis cultivation in the Garden State.

TerrAscend anticipates anticipates that the first harvest would take place during the last three months of this fiscal year.

The second build-out phase of the Boonton facility is expected to be completed in October 2020. The company’s New Jersey capacity will be a total of 140,000 square feet of cultivation space.

Moreover, TerrAscend can expand its New Jersey operations to more than 240,000 square feet, the company noted.

Jason Ackerman, TerrAscend’s Executive Chairman, said they are “exceptionally proud” of their team.

“This is an important milestone as we continue to expand our operations to meet growing patient demand for high-quality medical products in New Jersey,” he added.

TerrAscend will introduce a suite of cannabis medical products, including raw flower, pre-rolls, extracted distillate, vaporizable oil, as well as tinctures, topicals, and medically-blended vapes under the brand name Ilera Healthcare.

The product offerings will be available to New Jersey patients in November, the company expects.

Meanwhile, TerrAscend has been expanding its footprint. Last week, the company launched the new Apothecarium dispensary in Berkeley, California, its seventh store nationwide.

Courtesy photo

 

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