Preparing for the anticipated launch of “cannabis two.0” items later this year, TerrAscend Corp. (CSE: TER OTCQX: TRSSF) now announced a new partnership with Kindred Partners Inc.
Beneath the terms of the deal, cannabis brokerage solutions corporation Kindred — a subsidiary of the alcohol focused Breakthru Beverage Group – will serve as the exclusive broker for TerrAscend’s recreational adult usage items in Canada.
TerrAscend is in search of elevated distributing and promoting possibilities as the corporation was granted a license amendment from Well being 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:
Our strategic partnership with Kindred guarantees that TerrAscend has direct access to distribution channels and customer insights essential for our items to thrive in an evolving cannabis sector. We are seeking forward to tapping into Kindred’s national network and group of specialists as we take benefit of the imminent legal sales of cannabis-infused items.
Like most other licensed producers in the legalized Canadian sector, TerrAscend is expecting to start promoting new solution forms in December now that Well being Canada has finalized cannabis two. regulations.
Operating on a multi-national scale, TerrAscend is operating towards bringing its current non-dried flower brands from U.S. channels more than to Canadian sales outlets now that added solution forms have been legalized.
So far the corporation has submitted 15 SKUs to Well being Canada for items ranging from edibles to vape pens and cartridges, with a further batch of solution forms anticipated to be submitted for approval in the coming months.
The corporation mostly operates in Canada by way of the Mississauga cultivation internet site, which was initially licensed for healthcare developing back in 2017.
In the run up towards new items hitting shelves, that facility has now elevated from 17,800 sq. ft. of operational space to 51,800 sq. ft.
Aside from expanded cultivation space, the extra square footage is now becoming utilized for formulation rooms and packaging space geared at non-dried flower offerings.
Most licensed producers in the nation are presently shifting gears towards the newly expanded accessible solution lineup, investing in production and packaging facilities for such offerings as chocolates, gummies, shatter, sugar wax, and vape cartridges.