Canadian cannabis company TerrAscend Corp. (CSE: TER) (OTC: TRSSF) announced Tuesday it has obtained an amendment to its existing Health Canada license that enables it to sell cannabis extracts, topicals and edibles.
The news comes as the country kicks off “Cannabis 2.0,” legalizing edibles, beverages and other cannabis derivative products.
Sales of these newly legalized products are expected to commence in December.
TerrAscend’s new product formats will be produced at its EU-GMP certified facility in Mississauga, Ontario, the company said.
The company submitted 15 SKUs to Health Canada for launch approval, including vape pens, edibles and cartridges. TerrAscend said it plans to submit a larger set of SKUs in the upcoming months.
"The addition of cannabis derivatives to our product line enables TerrAscend to better meet the needs of patients and customers, who demand safe, standardized products," CEO Michael Nashat said in a statement. "This approval also paves the way to bring our U.S. brands and formulations to the Canadian market."
TerrAscend shares were trading down slightly at $3.70 at the time of publication.
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