TerrAscend Corp (OTCMKTS: TRSSF) is a leading cannabis operator based in North America that recently announced it had finally gotten pre-qualification approval for retail, cultivation, and processing licenses from the Marijuana Regulatory Agency of Michigan according to the MMF (Medical Marijuana Facilities) Licensing Act. This pre-qualification approval means that TerrAscend has successfully completed one of the most comprehensive parts of the State’s regulatory and licensing approval process. This procedure is a vital closing condition for the company’s Gage Growth Corp acquisition. The deal will be closed after TerrAscend receives applicable court, shareholder, and other regulatory satisfaction and approvals.
TerrAscend’s Executive Chairman, Jason Wild, said their pre-qualification is crucial as they progress towards completing the Gage acquisition promptly. He claimed that upon completion, their combined company would have the ability to bring together processing, cultivation, retail, and brand networks so that they can take full advantage of all the significant opportunities that come the company’s way.
Once the transaction is complete, the business will be operating in Canada and five other different states. These operations will include seven processing and cultivation facilities alongside twenty-three operating dispensaries that’ll serve both the adult-use and medical markets in Canada and the United States.
TerrAscend has vertically integrated operations in California, New Jersey and Pennsylvania. In addition, it is licensed to process and cultivate marijuana in both Canada and Maryland. The company runs the Apothecarium dispensary, which is an award-winning chain of retail locations. The company’s best-in-class manufacturing and cultivation practices help yield high-quality, consistent marijuana and allow them to provide industry-leading cannabis products to both the legal adult-use and medical market.
The company also recently announced that it was launching a new premium edibles line dubbed Valhalla Confections. The cannabis-infused soft lozenges product can exclusively be found at two Apothecarium dispensaries in New Jersey, which are located in Phillipsburg and Maplewood. These soft lozenges have become very popular on the West Coast. Not only are they formulated with cannabinoids, terpenes, and THC oil, but they’re gluten-free as well.
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