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TerrAscend Completes Second Phase Of Construction At Boonton Facility In New Jersey

Cannabis company TerrAscend Corp. said it has completed the second phase of construction at its cannabis cultivation and manufacturing facility located in Boonton, New Jersey.

The company has now added about 80,000 square feet of indoor cultivation to the existing on-site greenhouse and post-harvest manufacturing facilities, bringing the Boonton facility's total current footprint to about 140,000 square feet.

TerrAscend noted that it can further expand the Boonton facility to 240,000 square feet.

The company recently obtained approval from the New Jersey Department of Health or NJ DOH to begin cultivation activities within the new indoor facility. The company expects to complete its first indoor harvests in the first quarter of 2021.

In August 2020, TerrAscend received approval from the NJ DOH to begin cultivating cannabis at the about 40,000 square foot greenhouse co-located at the Boonton facility. Concurrently, the company began initial planting of the greenhouse and completed several harvests during the fourth quarter of 2020.

In addition to its current wholesale and retail flower sales, TerrAscend plans to launch its suite of medical products including pre-rolls, extracted distillate and vaporizable oil, as well as Ilera branded tinctures, topicals and medically-blended vapes.

In December 2018, TerrAscend New Jersey was awarded a license to apply for one of six vertically integrated permits. After receiving additional processing and dispensing approvals, the full permit allows TerrAscend to operate a production facility as well as up to three Alternative Treatment Centers (ATCs), or dispensaries, in the North region of New Jersey.

The company's first Apothecarium-branded ATC opened in Phillipsburg, New Jersey in the fourth quarter of 2020. It will be followed by two additional ATCs in the first half of 2021.

TerAscend said in November 2020 that it received the final permit from the NJ DOH to dispense medical cannabis from its 3,500 square-foot dispensary in Phillipsburg.

New Jersey is the eleventh largest state in the U.S. by population, with nearly 9 million residents, and more than 94,000 registered medical cannabis patients.

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