Phoenix, Arizona--(Newsfile Corp. - September 24, 2019) - The Stock Day Podcast welcomed TerrAscend (OTCQX: TRSSF) ("the Company"), a company that provides quality products, brands, and services to the global cannabinoid market. CEO, Michael Nashat, joined Stock Day host Everett Jolly.
Jolly began the interview by asking Nashat how the Company stands out from other companies in the cannabis industry. "TerrAscend is the first and only cannabis company that is licensed for sale in Canada, the United States, and Europe.", explained Nashat. He also shared that the Company's facility in Ontario has received its EU GMP certification. "Only one out of six cannabis companies in the world have that certification.", added Nashat. He further explained that this certification allows the Company to enter the European market at the highest level of approval.
Nashat then shared that the Company has also been focused on the research of migraine and insomnia treatments, as well as the research of the genetic factors of plants. "TerrAscend is set-up for success to be operating across the global market and for being a platform to launch new cannabinoid products across the world.", said Nashat.
Jolly then asked about the Company's acquisition strategy. Nashat explained that there are several factors that go into the consideration of each acquisition by the Company. "Are these people that we want to bring into the TerrAscend family? Is this a brand that we want to launch in different jurisdictions?", said Nashat, adding that the Company's recent acquisition of State Flower achieved both of these factors. Nashat further explained that State Flower brings a new level of cultivation expertise to the Company, as well as an innovative and relatable brand quality.
The conversation then turned to the Company's partnership with Syqe Medical. Nashat shared that this partnership revolves around an exclusive distribution agreement to secure placement for Syqe Medical's dry cannabis inhaler into the Canadian market. Nashat explained that this is the first inhaler of its kind, offering precise and consistent doses with a low side effect profile. "We're very excited to be able to distribute this product into the Canadian market.", said Nashat.
Jolly then inquired about the Company's potential revenues going forward. Nashat shared that the Company is expected to grow quickly as they continue to expand into the Canadian market. The Company is also expanding throughout the United States and is currently in the process of finalizing an additional acquisition. "Our growth will definitely be around the third and fourth quarters.", explained Nashat. "We're on track to meet our goals."
"What is the vision for your company over the next two to three quarters?", asked Jolly. Nashat stated that one of the Company's main focuses is to standardize their platform as new and exciting brands continue to come onboard. "Cannabis can't cross the state lines, but our brands and formulations can.", stated Nashat.
To close the interview, Nashat shared that the vision of the Company is to become a top five global cannabinoid company. "We're going to deliver high-quality and consistent cannabis products and services that exceed all industry standards and customer expectations.", closed Nashat.
To hear Michael Nashat's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7377224-terrascend-joins-the-stock-day-podcast-for-the-first-time-to-discuss-their-global-expansion
TerrAscend provides quality products, brands, and services to the global cannabinoid market. As the first North American Operator (NAO) with scale operations in both Canada and the US, the Company participates in the medical and legal adult use market across Canada and in several US states where cannabis has been legalized for therapeutic or adult use. Additionally, TerrAscend will soon be the first and only cannabis company with sales in the US, Canada , and Europe as it has received EU GMP certification for its manufacturing facility in Mississauga, Ontario . TerrAscend operates a number of synergistic businesses, including The Apothecarium, an award-winning cannabis dispensary with several retail locations in California and Nevada ; Arise Bioscience Inc., a manufacturer and distributor of hemp-derived products; Ilera Healthcare, Pennsylvania's premier medical marijuana cultivator, processor and dispenser; Ascendant Laboratories Inc., a biotechnology and licensing company committed to the continuous improvement of cannabinoid expressing plants; Solace RX Inc., a proposed Drug Preparation Premises (DPP) focused on the development of novel formulations and delivery forms; and Valhalla Confections, a manufacturer of premium cannabis-infused edibles. For more information, visit https://www.terrascend.com.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States . Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under US federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. Due to any investments made by TerrAscend in operations in the United States , enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend's operations and financial performance.
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, and include statements with respect to the anticipated benefits of the transaction, as well as future plans for Ilera (including additional dispensaries) and sales by TerrAscend into Europe . Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although TerrAscend believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because TerrAscend can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking statements. Such risks and uncertainties include, but are not limited to, TerrAscend's ability to fund any future earn-out consideration payments that may become payable as part of the transaction; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States ; TerrAscend's ability to successfully integrate Ilera and any other acquired businesses in the future; and fluctuations in foreign currency exchange rates.
The statements in this press release are made as of the date of this release. TerrAscend disclaims any intent or obligation to update 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.
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