NEW YORK and TORONTO, June 30, 2020 /CNW/ – TerrAscend Corp. (“TerrAscend”) (CSE:TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it will officially open its third retail dispensary location in Pennsylvania on July 6, 2020. The newly renovated, 5,000 square foot Apothecarium medical dispensary is located at 2701 Lincoln Hwy East, Thorndale, PA. (the “Apothecarium Thorndale”).
Designed to provide excellent patient experiences, the Apothecarium Thorndale is a full-service medical marijuana dispensary. The store features private consultation rooms and has a highly trained medical consultation staff on site to assist patients and caregivers. The store will carry a wide variety of medical cannabis products, including dried flower, vaporizable and activated oils, concentrates, capsules, tinctures, topicals, and ancillary products. The new location will also offer online ordering and in-store pickup, with curbside pickup coming soon.
“Patients in southeast Pennsylvania will now have additional access to the essential medicines they need,” said Greg Rochlin, CEO of Ilera. “Our mission is to provide our patients with quality medical marijuana in a welcoming environment with empathy, education, and ongoing personal support. We aim to help customers find the right medicine for their needs and to help them understand how to use it safely and effectively.”
“Pennsylvania’s medical cannabis program is rapidly growing, and with this third Apothecarium location we have expanded our footprint and solidified our commitment to local patients,” said Jason Ackerman, CEO of TerrAscend. “I’m proud of the work our team has done to provide a model of outstanding medical care and service that supports the health and well-being of Pennsylvania residents.”
Like other Apothecarium stores, the modern, tech-forward aesthetic is designed to be both comfortable and easy to navigate for seniors, first-time dispensary visitors, and patients with serious medical conditions. The Apothecarium Thorndale features welcoming furnishings and natural light and is the largest of TerrAscend’s three Pennsylvanian dispensaries opened to date.
The Apothecarium Thorndale has implemented strict safety standards to protect employee, customer, and patient health. Per state regulations, employees and visitors are required to wear a mask. In addition, employee temperatures will be taken at the start of every shift, an extensive daily cleaning and sanitation protocol has been put in place and associates have been trained to interact at a socially safe distance at all points of service.
TerrAscend provides quality products, brands, and services to the global cannabinoid market. As the first North American Operator (NAO), with scale operations in both Canada and the US, TerrAscend participates in the medical and legal adult-use market across Canada and in several US states where cannabis has been legalized for therapeutic or adult use. TerrAscend was the first cannabis company with sales in the US, Canada, and Europe. TerrAscend operates a number of synergistic businesses, including The Apothecarium, an award-winning cannabis dispensary with retail locations in California and Pennsylvania; Arise Bioscience Inc., a manufacturer, and distributor of hemp-derived products; Ilera Healthcare, Pennsylvania’s premier medical marijuana cultivator, processor and dispenser; and Valhalla Confections, a manufacturer of premium cannabis-infused edibles. TerrAscend holds a cultivation permit in the State of New Jersey and is pending approval for a vertically integrated medical cannabis operation with the ability to operate up to 3 Alternative Treatment Centers. Additionally, TerrAscend holds a Medical Cannabis Processor License in the State of Utah. For more information, visit www.terrascend.com.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.
For further information: regarding TerrAscend: Keith Stauffer, Chief Financial Officer, IR@terrascend.com; Rob Kelly, Investor Relations, Mattio Communications, TerrAscend@mattio.com, 1-416-992-4539