Kindred will provide brokerage services for TerrAscend’s adult use cannabis products in Canada, with the aim of boosting sales and distribution.
"Our strategic partnership with Kindred ensures that TerrAscend has direct access to distribution channels and consumer insights that are critical for our products to thrive in an evolving cannabis industry, particularly as we head into cannabis 2.0," TerrAscend CEO Michael Nashat said in a statement.
"We are looking forward to tapping into Kindred's national network and team of specialists as we take advantage of the imminent legal sales of cannabis-infused products."
TerrAscend also disclosed other recent milstones, such obtaining Health Canada approval for an expansion of licensed space at its EU-GMP certified facility, as well as obtaining an amendment to its Health Canada license that enables it to sell cannabis extracts, edibles and topicals.
The company congratulated Canopy Rivers Inc (TSX: RIV) (OTC: CNPOF) and Kindred on another strategic alliance announced Wednesday.
"We are excited to represent TerrAscend's innovative products and share insights to help them address the adult-use market," Kindred general manager Dave Prodanovic said in a statement.
"We will leverage our deep experience and talented team to offer brand-building and go-to-market execution that will provide nationwide visibility to TerrAscend's adult-use cannabis brands."
Terrascend shares were down 1.59% at $3.65 at the time of publication.
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