TORONTO, ONTARIO--(Marketwired - May 16, 2017) - TerrAscend Corp. (CSE:TER)(CSE:TER.CN)(CNSX:TER) ("TerrAscend" or the "Company"), a vertically integrated medical cannabis company based in Mississauga, Ontario, today announced the official establishment and launch of Terra Health Network Ltd. ("Terra Health" or "THN"), a wholly-owned subsidiary of the Company. TerrAscend's other wholly-owned subsidiary, Solace Health Inc., is a final stage applicant to become a Licensed Producer pursuant to the Access to Cannabis for Medical Purposes Regulations ("ACMPR").
THN operates on two separate platforms: (1) THN works with existing medical clinic owners to provide their resident doctors and healthcare practitioners with educational materials and resources to facilitate the prescription process for medical cannabis, and to provide resources to assist their patients in locating coverage for medical cannabis through existing benefit plans; and (2) THN operates locations that serve as dedicated education, training and support centres.
THN provides a comprehensive patient navigation platform, standardizing the medical experience for patients and healthcare professionals before, during and after the medical visit. This proprietary system also allows for the collection, storage and aggregation of regulatory permitted patient data.
THN's first clinic was launched in May 2017 in Mississauga, Ontario. The Company has received commitments from an additional 24 locations and expects to add more locations over time.
"Terra Health Network exemplifies TerrAscend's focus on ensuring patients have access to the highest quality healthcare," said Basem Hanna, President and Chief Executive Officer of TerrAscend. "THN provides medical professionals and patients with the support they need when exploring and introducing cannabis as a treatment option. It also provides patients with the necessary resources to assist them in locating coverage for medical cannabis through their existing benefit plans."
Based in Mississauga, ON, 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 medical cannabis market. TerrAscend operates two wholly-owned subsidiaries, Solace Health Inc., a final stage ACMPR applicant, and Terra Health Network Ltd., which provides a full service physician and patient education and support platform.
This news release contains "forward-looking information" within the meaning of applicable securities laws including, but not limited to, statements relating to Terra Health's intention or ability to onboard additional clinics. 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, however 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.