Cannabis company TerrAscend Corp. (CSE: TER) TRSSF 1.02% announced Thursday that TerrAscend NJ, LLC has obtained a permit from the New Jersey Department of Health to grow medical cannabis.
Its cultivation permit was the second out of the six applicants selected by the state agency in December, the company said. Growing operations will start right away at its facility in Boonton Township, TerrAscend said.
TerrAscend obtained the right to apply for a vertically integrated permit to cultivate, process and dispense medical marijuana in New Jersey. The company was chosen from 146 candidates to apply for one of six permits, according to Thursday's press release.