TerrAscend Debuts Legend in the Great Lakes
State
TORONTO, May 19, 2023
/CNW/ - TerrAscend Corp. ("TerrAscend" or the "Company") (CSE:
TER) (OTCQX: TRSSF), a leading North American cannabis operator,
today announced that its subsidiary, Gage Cannabis Co. ("Gage"),
has launched Legend, a cannabis brand providing consumers with
top-quality flower at everyday prices, in Michigan. Legend products will be available at
all 19 of TerrAscend's retailers statewide, including Gage, Cookies
and Pinnacle Emporium locations.
Legend aims to preserve the simplicity of cannabis and all that
it has to offer with good strains, grown right, at a great price.
Guided by the many generations that have fought to keep the plant's
unrivaled traditions alive, Legend embraces the entourage effect,
harnessing the synergy of cannabinoids and terpenes to deliver a
well-rounded and balanced cannabis experience. Legend enhances the
everyday by curating products that are both sessionable and
affordable — because when every day is fun, it's also legendary.
The initial Michigan product
launch features three strains of Legend's expertly dried and cured
flower, including Indica, Sativa and Hybrid strains, available in
14g and 28g. In addition to the Michigan launch, Legend is currently available
in Pennsylvania and New Jersey, with plans to expand to new
markets in the near future.
In the coming months, TerrAscend plans to offer additional
Legend products in Michigan,
including more of its consistently balanced flower, pre-rolls, and
vape cartridges.
"We're excited to bring Legend's exceptional cannabis at
affordable everyday prices to the second-largest cannabis market in
the U.S.," said Jason Wild,
Executive Chairman of TerrAscend. "We're committed to exceeding
market expectations by providing a wide selection of products, and
Legend always offers great strains and great times at the right
price."
TerrAscend has dedicated significant shelf space to the display
and sale of Legend at its locations in Addison, Adrian, Ann
Arbor, Battle Creek,
Buchanan, Burton, Camden, Center
Line, Detroit, Edmore, Ferndale, Grand
Rapids, Jackson,
Kalamazoo, Lansing, Morenci, Oxford and Traverse
City.
For more information on how to find Legend products, please
visit www.grownlegend.com or on Instagram @grownlegend.
About TerrAscend
TerrAscend is a leading North American cannabis operator with
vertically integrated operations in Pennsylvania, New
Jersey, Maryland,
Michigan and California and retail operations in
Canada. TerrAscend operates The
Apothecarium and Gage dispensary retail locations as well as scaled
cultivation, processing, and manufacturing facilities in its core
markets. TerrAscend yields consistent, high-quality cannabis,
providing industry-leading product selection to both the medical
and legal adult-use markets. The Company owns several synergistic
businesses including Gage Cannabis, The Apothecarium, Ilera
Healthcare, Kind Tree, Legend, State Flower, and Valhalla
Confections. For more information visit www.terrascend.com.
About Gage
Gage is a premier provider of the high-quality cannabis
experience that consumers crave. We bring internationally renowned
brands and high end products to the cannabis space. Throughout our
journey to becoming the market's choice cannabis provider, we have
leaned into creativity and innovation to successfully build our
various licensed cultivation, processing and retail operations. We
strive to continue our passion of providing the cannabis consumer
with the world-class premium cannabis products they want and
deserve. To learn more about Gage's mission for the everyday
canna-connoisseur, visit www.gagecannabis.com.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal
restrictions and regulations that govern the cannabis industry in
the United States. Cannabis
remains a Schedule I drug under the US Controlled Substances Act,
making it illegal under federal law in the United States to, among other things,
cultivate, distribute or possess cannabis in the United States. Financial transactions
involving proceeds generated by, or intended to promote,
cannabis-related business activities in the United States may form the basis for
prosecution under applicable US federal money laundering
legislation.
While the approach to enforcement of such laws by the federal
government in the United States
has trended toward non-enforcement against individuals and
businesses that comply with medical or adult-use cannabis programs
in states where such programs are legal, strict compliance with
state laws with respect to cannabis will neither absolve TerrAscend
of liability under U.S. federal law, nor will it provide a defense
to any federal proceeding which may be brought against TerrAscend.
The enforcement of federal laws in the
United States is a significant risk to the business of
TerrAscend and any proceedings brought against TerrAscend
thereunder may adversely affect TerrAscend's operations and
financial performance.
Forward Looking Information
This news release contains "forward-looking information" within
the meaning of applicable securities laws. Forward-looking
information contained in this press release may be identified by
the use of words such as, "may", "would", "could", "will",
"likely", "expect", "anticipate", "believe, "intend", "plan",
"forecast", "project", "estimate", "outlook" and other similar
expressions. Forward-looking information is not a guarantee of
future performance and is based upon a number of estimates and
assumptions of management in light of management's experience and
perception of trends, current conditions and expected developments,
as well as other factors relevant in the circumstances, including
assumptions in respect of current and future market conditions, the
current and future regulatory environment, and the availability of
licenses, approvals and permits.
Although the Company believes that the expectations and
assumptions on which such forward-looking information is based are
reasonable, undue reliance should not be placed on the
forward-looking information because the Company can give no
assurance that they will prove to be correct. Actual results and
developments may differ materially from those contemplated by these
statements. Forward-looking information is subject to a variety of
risks and uncertainties that could cause actual events or results
to differ materially from those projected in the forward-looking
information. Such risks and uncertainties include, but are not
limited to, current and future market conditions; risks related to
federal, state, provincial, territorial, local and foreign
government laws, rules and regulations, including federal and state
laws in the United States relating
to cannabis operations in the United
States; and the risk factors set out in the Company's most
recently filed MD&A, filed with the Canadian securities
regulators and available under the Company's profile on SEDAR at
www.sedar.com and in the section titled "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2022 filed with the
Securities and Exchange Commission on March
16, 2023.
The statements in this press release are made as of the date of
this release. TerrAscend disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
SOURCE TerrAscend