TerrAscend Commences Cultivation of Medical Cannabis
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
TORONTO, Aug. 29, 2017 (GLOBE NEWSWIRE) -- TerrAscend Corp. (CSE:TER) (“TerrAscend” or the “Company”), is pleased to announce that its wholly-owned subsidiary, Solace Health Inc. (“Solace Health”), has commenced cultivation activities at its headquarters in Mississauga, Ontario. The experienced team at Solace Health will begin cultivation by planting rooted starting materials, with an anticipated flowering cycle of approximately eight weeks. Solace Health will initially cultivate a variety of cannabis strains sought by Canadian patients, including offerings with varying THC and CBD concentrations and genetic subtypes.
“We’re excited to begin our cultivation efforts and provide Canada’s medical cannabis community with a truly high quality, premium product,” noted TerrAscend’s President & Chief Executive Officer, Basem Hanna. “Planting our first crop is monumental for TerrAscend and Solace Health as it enables us to diligently move forward and obtain further licenses, including a sales license, through Health Canada.”
Solace Health’s cultivation and facility teams have built a state of the art, indoor hydroponic growing environment that will enable it to produce high quality, pesticide-free medical cannabis for Canadian patients under the Access to Cannabis for Medical Purposes Regulations. To achieve their strict quality standards, the cultivation team has built a modular, purpose-built facility that provides comprehensive environmental controls and pest management systems.
About TerrAscend
TerrAscend is a vertically-integrated Canadian cannabis company that strives to create and deliver quality products and services that meet the evolving needs of the cannabis market. The Company provides support to patients through its wholly-owned subsidiaries, Solace Health Inc., a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations, Terra Health Network Inc. (“Terra Health”), a clinical support program and education platform led by health care professionals, and Solace Rx Inc. (“SolaceRx”), a drug preparation premises for non-cannabis formulations. Please visit www.TerrAscend.com for more information about the Company.
Forward-looking statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although TerrAscend believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because TerrAscend can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. TerrAscend undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of TerrAscend, its securities, or financial or operating results (as applicable). TerrAscend disclaims any intent or obligation to update publicly 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.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For more information: Ari Unterman Investor Relations 1-855-TERRA-95 x100 aunterman@terrascend.com
Released August 29, 2017
