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Wednesday, Jun 29, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

TerrAscend to sell its concentrates in New Jersey

The company also started selling its cannabis-infused edibles under the Valhalla brand

TerrAscend takes its concentrates to New Jersey
Photo via TerrAscend

North American pot operator TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) says it is bringing its concentrates to the Garden State this month.

On Monday, the vertically integrated company announced the New Jersey launch of its Kind Tree liquid live resin vape cartridges and its Kind Tree live resin crumble. The products will be exclusively sold at The Apothecarium Maplewood and Phillipsburg locations.

TerrAscend also said it started selling its cannabis-infused edibles under the Valhalla brand.

Kind Tree will be hosting a pop-up at the Maplewood and Phillipsburg locations on May 21 to feature its new products and provide accessory education. Attendants to the pop-up launch will also have the chance to meet TerrAscend’s New Jersey head grower, head of extraction and the manufacturing team.

The company said the first 300 customers at each location will receive prepaid coupons to be used at its local businesses.

Company stock dipped by 2.98 per cent on Monday to $4.89 on the Canadian Securities Exchange.

TerrAscend to sell its concentrates in New Jersey

Photo via Kind Tree

Read more: TerrAscend stock soars on profitable annual earnings

Read more: TerrAscend becomes first major US pot operator on Apple App Store

Executive chairman Jason Wild said the concentrate category accounts for up to 20 per cent of cannabis sales in other states.

“We are proud to be the first company to bring these products to New Jersey consumers,” Wild said.

“In just three weeks since the commencement of adult-use sales in New Jersey, cannabis connoisseurs are realizing that our Apothecarium dispensaries are the place to go for the high quality and high potency products they seek.”

He added that additional Kind Tree concentrates will be in the upcoming weeks including budder, badder, diamonds, and shatter.

The company has operations in Pennsylvania, Michigan, California and New Jersey.

Last March, the firm signed an all-stock US$545-million acquisition of Gage Growth Corp. (CSE: GAGE) (OTCQX: GAEGF), which has operations in Michigan and Canada.

 

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