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Terrascend (TER.C) greenhouse gets the green light from the New Jersey health board

08/05/2020

Terrascend’s (TER.C) greenhouse in Boonton, New Jersey was given the nod by the New Jersey Department of Health to commence cannabis production today, according to a press release.

The company also started the facility’s initial planting today, and the first harvest is intended by Q4 of this year.

“This is an important milestone as we continue to expand our operations to meet growing patient demand for high-quality medical products in New Jersey. We’re exceptionally proud of the team’s efforts and look forward to accelerating our growth as the facility ramps up to full capacity,” said Jason Ackerman, executive chairman of Terrascend.

In January, Terrascend was the second company to get its cultivation permit, after having won the right to apply for one of six vertically integrated permits out of 146 applicants back in December of 2018. Cultivation began in a temporary on-site area while they company was busy building its greenhouse. Now with this new permit, plants grown in the temporary area will be moved sufficiently to the greenhouse.

The company’s 37,000 square foot greenhouse has the honour of being the first approved for medical cannabis cultivation in the state. Terrascend intends to finish phase two of construction at the facility sometime in October, 2020, and will then expand their capacity in New Jersey to 140,000 square feet, adding indoor cultivation and manufacturing capabilities post-harvest. After which, they will have the ability to increase their operations in the garden state to 240,000 square feet.

Terrascend’s goals include the launch of a comprehensive suite of medical products for New Jersey patients in November. Their products will include raw flower, prerolls, extracted distillate and vape oil, and also include their Ilera brand of tinctures, topicals and medically blended vapes.

The full permit will let the company operate a production facility and up to three alternative treatment centres (ATCs) or dispensaries in northern New Jersey. The first ATC, branded as Apothecarium, will open in Phillipsburg, New Jersey, in Q4, 2020, followed by two more ATCs when they get regulatory approval.

—Joseph Morton

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