Preparing for the anticipated launch of “cannabis 2.0” products later this year, TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) today announced a new partnership with Kindred Partners Inc.
Under the terms of the deal, cannabis brokerage services company Kindred – a subsidiary of the alcohol focused Breakthru Beverage Group – will serve as the exclusive broker for TerrAscend’s recreational adult usage products in Canada.
TerrAscend is seeking increased distributing and marketing opportunities as the company was granted a license amendment from Health Canada earlier this month to sell extracts, edibles, and topicals from an EU-GMP certified facility in Mississauga, Ontario.
Chief Executive Officer Michael Nashat commented on the newly-announced brokerage deal:
Like most other licensed producers in the legalized Canadian industry, TerrAscend is expecting to begin selling new product types in December now that Health Canada has finalized cannabis 2.0 regulations.
Operating on a multi-national scale, TerrAscend is working towards bringing its existing non-dried flower brands from U.S. channels over to Canadian sales outlets now that extra product types have been legalized.
So far the company has submitted 15 SKUs to Health Canada for products ranging from edibles to vape pens and cartridges, with another batch of product types expected to be submitted for approval in the coming months.
The company primarily operates in Canada through the Mississauga cultivation site, which was originally licensed for medical growing back in 2017.
In the run up towards new products hitting shelves, that facility has now increased from 17,800 sq. ft. of operational space to 51,800 sq. ft.
Aside from expanded cultivation space, the additional square footage is now being utilized for formulation rooms and packaging space geared at non-dried flower offerings.
Most licensed producers in the country are currently shifting gears towards the newly expanded available product lineup, investing in production and packaging facilities for such offerings as chocolates, gummies, shatter, sugar wax, and vape cartridges.
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