TerrAscend Congratulates PharmHouse on Securing its Cannabis Cultivation Licence from Health Canada

TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (“TerrAscend” or “the Company”), the first and only cannabis company licensed for sales in Canada, the US, and Europe is pleased to congratulate the team at PharmHouse Inc. (“PharmHouse”) on securing a cannabis cultivation licence from Health Canada. The licence allows PharmHouse to begin cultivating and supplying cannabis from its 1.3 million square foot greenhouse (the “Facility”) located in Leamington, Ontario. The facility will ramp up its cultivation operations in 190,000 sq. ft of licensed nursery immediately.

TerrAscend’s subsidiary, TerrAscend Canada Inc., previously announced a multi-year cultivation agreement with PharmHouse, a joint venture between Canopy Rivers Inc. (TSXV: RIV, OTC: CNPOF) (“Canopy Rivers”) and the principals and operators of a leading North American greenhouse produce company. Under the terms of the agreement, PharmHouse will grow and supply flower, trim, and clones to TerrAscend Canada from 20% of the dedicated flowering space at the Facility. TerrAscend Canada expects to provide proprietary genetic strains to PharmHouse in conjunction with their operators and quality assurance professionals.

Robyn Rabinovich, TerrAscend’s VP of Cannabis Strategy and Partnerships, stated, “This represents an important milestone for both PharmHouse and TerrAscend and will be another step forward for TerrAscend in our goal of becoming the leading North American Operator. PharmHouse’s cultivation expertise combined with our processing capabilities will enable us to better provide our patients and customers with high quality, greenhouse-grown cannabis. This will advance our Canadian strategy, enhancing our production capabilities with respect to premium products and standardized dosage forms.”

SOURCE TerrAscend