TORONTO, July 10, 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 been granted a license to cultivate cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”). Strategically located in Mississauga, ON, and a short distance from Toronto’s Pearson International Airport, Solace Health will begin cultivating medical cannabis in Phase 1 of its 67,300 square foot facility, overseen by a qualified management team with strong health care and production experience.
“We are thrilled to have received a license to cultivate cannabis under Canada’s ACMPR,” commented Basem Hanna, President & Chief Executive Officer. “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 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 newly licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations and Terra Health Network Inc., a provider of clinical support and education programs led by health care professionals. 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.