TerrAscend Corp. (“TerrAscend”) (CSE:TER, OTCQX: TRSSF), a leading North American cannabis operator, today announced that it has received the final permit from the NJ Department of Health (“NJ DOH”) to dispense medical cannabis from its first dispensary in New Jersey. The 3,500 square-foot dispensary, located at 55 South Main Street in downtown Phillipsburg, is situated in the historic Phillipsburg National Bank & Trust building and is the first Alternative Treatment Center (“ATC”) in Warren County.
The Apothecarium Phillipsburg will commence serving medical patients today, by appointment only, followed by an official grand opening on November 30, 2020. The new full service medical dispensary offers a broad range of patient education resources, including multiple private consultation rooms and highly trained wellness consultation staff to assist patients and caregivers. TerrAscend operates a cultivation and manufacturing facility located in Boonton, New Jersey (the “Boonton Facility”) and expects to open three ATC’s in the Northern region of New Jersey.
“I’m thrilled to open the first of our three Apothecarium retail dispensaries in New Jersey and look forward to providing medical cannabis patients with access to the essential medicine they need,” said Jason Ackerman, CEO of TerrAscend. “I’m proud of our team for their efforts in achieving this milestone and look forward to providing outstanding care and service to support the health and well-being of New Jersey residents.”
New Jersey, which recently voted to legalize a forthcoming adult-use cannabis program, is the 11th largest state in the U.S. by population, with nearly 9 million residents, and more than 94,000 registered medical cannabis patients. The Company expects to open the remaining two ATCs, or dispensaries in 2021 upon regulatory approval. The Northern region of New Jersey has the highest density of patients in the state, and TerrAscend is one of four permit holders.