Terrascend’s (TER.C) dispensary, Apothecarium, will begin offering Houseplant, the cannabis lifestyle brand founded by Seth Rogan and Evan Goldberg.
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values…The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area,” said Seth Rogen , Co-Founder of Houseplant.
The Apothecarium will begin offering the Houseplant brand at its five California dispensaries. In addition to its California operations, Terrascend also has dispensaries in San Francisco where its flagship dispensary is located, and one each in Berkeley and Capitola. With this in mind, Apothecarium is recognized as one of the nation’s premier cannabis dispensaries. Moreover, Apothecarium dispensaries are focused on educating consumers by offering one-on-one consultations and hosting educational events free of cost.
Houseplant will be launching with three flower strains including Diablo Wind and Pancake Ice sativas as well as Pink Moon indicas. If you’re a meteorologist or enjoy studying weather as a past time, you may have noticed that Houseplant’s strains are aptly named after naturally occurring weather phenomenon. I wouldn’t expect anything less from Seth Rogan, the man who brought us legendary film “Pineapple Express”. That aside, each unique strain of Houseplant’s products will be available at Apothecarium’s California dispensaries and will be sold in custom tins.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers…Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests…We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging,” said Ryan Hudson, CEO and co-founder of The Apothecarium.
Terrascend recently released its 2020 financial reports on March 23, 2021. According to the reports, the Company generally saw some massive improvements to its overall net sales and cash flow. Compared to 2019, Terrascend saw its net sales increase 134% from $85 million to $198 million in 2020. Furthermore, Terrascend’s cash flow from operations grew to $33 million compared to a loss of $48 million in 2019. It goes without saying that Terrascend’s performance in 2020 was exceptional. However, since the latter half of February 2021, Terrascend’s stock performance has taken a hit and its overall trade volume has decreased significantly. Regardless, Terrascend is confident that its recent investments will provide the Company with the momentum it needs to excel in 2021.
Terrascend’s share price opened at $12.50 today, down from a previous close of $12.65. Following the news, the Company’s share price has continued to drop and currently sits at $12.27 as of 11:13 AM ET.
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