TerrAscend and Wana Brands Debut Cannabis-Infused Gummies in New Jersey
TORONTO, May 18, 2023 /CNW/ - TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the highly anticipated debut of Wana Brands' renowned cannabis-infused gummies in New Jersey.
TerrAscend serves as Wana's sole manufacturer, supplier, and commercialization partner in New Jersey and is now offering a diverse range of Wana products exclusively at The Apothecarium dispensaries in Lodi, Maplewood, and Phillipsburg.
Nancy Whiteman, CEO of Wana Brands, said "Research is finding that cannabinoid ratios can address individual needs in unique ways. Now, New Jersey cannabis consumers can access premium cannabis edibles from Wana Brands that help them dial in their experience and address their overall wellness goals. At Wana, we are serious about our research and development, which enables us to offer a range of cannabinoid products that are consistent and efficacious."
She added, "We couldn't be more excited to introduce Wana to New Jersey through our exclusive partnership with TerrAscend. The Apothecarium dispensaries will be the go-to destination for customers seeking Wana's best-selling gummies in the state."
Wana Classic Gummies offer a traditional edible experience, with effects such as full-body relaxation and mindful inspiration. Four bestselling products are now available for purchase exclusively at The Apothecarium dispensaries in New Jersey:
- Wana Classic Gummies Strawberry Lemonade 1:1: Balancing notes of bright citrus and lush strawberry, these chews contain a smooth, calming ratio of CBD and THC. 10mg THC and 10mg CBD per piece, 100mg THC and 100mg CBD per package (10 pieces).
- Wana Classic Gummies Blueberry Indica: These not-too-sweet, not-too-tart indica chews are the perfect way to wind down after a busy day. 10mg THC per piece, 100mg THC per package (10 pieces).
- Wana Classic Gummies Watermelon Hybrid: These refreshingly fruity hybrid chews are infused with a custom blend of more than 30 balanced (and balancing) terpenes. 10mg THC per piece, 100mg THC per package (10 pieces).
- Wana Classic Gummies Mango Sativa: These inspiring sativa chews contain notes of tropical sweetness, elevated by a tangy citrus burst. 10mg THC per piece, 100mg THC per package (10 pieces).
Additional Wana flavors and formulations will debut this month at The Apothecarium stores, with a full launch of Wana products across New Jersey planned for this summer.
"Wana is officially making its debut in New Jersey and The Apothecarium is proud to be the first dispensary offering Wana products in the state," states TerrAscend's Executive Chairman Jason Wild. "TerrAscend is committed to delivering innovative and sought-after products and continues to expand its selection at The Apothecarium, ensuring that consumers in the state have access to the most popular brands."
TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan and California and retail operations in Canada. TerrAscend operates The Apothecarium and Gage dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. TerrAscend yields consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The Company owns several synergistic businesses including Gage Cannabis, The Apothecarium, Ilera Healthcare, Kind Tree, Legend, State Flower, and Valhalla Confections. For more information visit www.terrascend.com.
With North America's largest distribution footprint, cannabis edibles producer Wana Brands is a top international brand available in 15 U.S. states, the U.S. territory of Puerto Rico and nine Canadian provinces and territories, generating close to $300 million in retail sales annually across more than 3,000 dispensaries. Through industry-leading innovation, Wana is developing cutting-edge use-case formulations and recipes, such as Wana Quick Fast-Acting Gummies, the top-selling quick-onset edible, and the Optimals Fast Asleep formulation. Wana is committed to the communities it serves by supporting more than 50 charitable organizations in the markets where the company operates. For more information or to subscribe to Wana's e-newsletter, visit www.wanabrands.com. Follow Wana on Instagram, LinkedIn, and Twitter.
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.
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; and the risk factors set out in the Company's most recently filed MD&A, filed with the Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com and in the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on March 16, 2023.
The statements in this press release are made as of the date of this release. TerrAscend disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Released May 18, 2023