Wisconsin lawmakers propose law to decriminalize cannabis

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TORONTO, November 16, 2021 – PRESS RELEASE – TerrAscend Corp., a global cannabis company licensed for sale in Canada, the United States and the EU, announced that its wholly owned subsidiary has acquired commercial property at 273 East Memorial Blvd., Hagerstown, Md., (Hagerstown Facility) . for a purchase price of approximately $ 2.8 million plus certain charges and expenses from GB & J’s LLC.

TerrAscend currently manufactures and sells dried flower and oil products for the medical cannabis wholesale market in Maryland from its existing 22,000 square foot cultivation and processing facility in Frederick, Maryland. The company already has regulatory approval to move its grow operations to the 156,000-square-foot facility in Hagerstown and is expected to relocate and begin operations in the first quarter of 2022.

“With adult use legislation under review by the state, expanding our growing and processing capabilities in Maryland will allow us to serve this important and underserved market,” said Jason Wild, TerrAscend executive chairman. “Our investment will improve patient and future consumer access to quality cannabis products, including our Kind Tree, Ilera and Prism brands, as we continue to pursue potential vertical integration opportunities in the state.”