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TerrAscend Obtains ACMPR Cultivation License

July 10, 2017

 

This afternoon, TerrAscend's (CSE:TER) wholly-owned subsidiary, Solace Health Inc. received its license to cultivate pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR). This makes Solace Health Canada's 51st licensed producer. The number of licensed producers has really ramped up lately as Health Canada's improvements to the process take effect

 

Management Commentary 

 

TerrAscend's President and CEO, Basem Hanna

 

“We are thrilled to have received a license to cultivate cannabis under Canada’s ACMPR. Our team understands that a license to cultivate is just the beginning of what’s to come for TerrAscend and Solace Health. TerrAscend, through its subsidiaries, aims to be a leading provider of cannabis products, services, and supporting technologies to the medical market. We’d like to thank all of our stakeholders that have contributed to this achievement over the past three years and we look forward to continuing to grow and promote the Solace Health brand.”

 

About Solace Health

 

Solace Health has a 67,300 square foot facility and is currently approved to use a portion of that space for cultivation. The facility is located in Mississauga, ON, and is a short distance from Toronto’s Pearson International Airport. Upon completion of their full build-out, the company expects their production capacity to exceed 6,000 kilograms per year. Additionally, Solace Health will set aside 9,500 square feet to dedicate to research and development activities. 

 

About TerrAscend 

 

TerrAscend listed on the CSE in May of 2017. In addition to owning Solace Health, TerrAscend recently established Terra Health Network. Terra Health Network operates cannabis clinics that educate doctors and assist patients in seeking a prescription and obtaining insurance coverage for medical cannabis. 

 

Conclusion

 

The Daily Marijuana Observer is working on a marijuana stock profile for TerrAscend, so check back soon or subscribe to their free email newsletter to find out when it becomes available. 

 

In the meantime, be sure to check out their Canadian L.P. Database where you can find custom charts and more recent news from Canada's publicly traded LPs.

 

So you never miss an update from one of Canada's 51 licensed producers, be sure to subscribe to The Daily Marijuana Observer's free Canadian LP email newsletter

 

If you haven't already, connect with The Daily Marijuana Observer on Facebook, Twitter and Instagram.

 

D/M/O

 

Disclaimer

 

Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.​

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.