TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that TerrAscend NJ, LLC ("TerrAscend NJ") has been issued a permit to process cannabis by the New Jersey Department of Health ("NJ DOH") which allows the Company to engage in the extraction, processing and manufacturing of a wide range of branded form factors including, vaporizables, concentrates, topicals, tinctures and edibles under the Ilera Healthcare, Kind Tree, and Prism brands.
"We are pleased to receive our processing permit from the NJ DOH and we look forward to introducing TerrAscend's house of brands and form factors to medical-use patients through our ATCs1 and the wholesale channel," said Jason Ackerman, CEO and Executive Chairman of TerrAscend. "Our medical cannabis business in New Jersey is performing well and we are prepared to meet customer demand once adult-use sales are permitted."
TerrAscend's 16-acre site is located in Boonton Township in Morris County. Construction of a 140,000 sq. ft. production facility is complete, and the Company has completed several harvests from its 40,000 square foot greenhouse with sales commencing late in the fourth quarter. In addition, the first harvests are currently underway at the Company's newly completed 80,000 square foot indoor grow facility with first sales into the market anticipated in the coming weeks. The scaled cultivation, processing, and manufacturing capacity of the Boonton facility will allow for the supply of a wide range of branded form factors to TerrAscend's ATCs, as well as other dispensaries across the state.