TerrAscend Receives Permit to Dispense Medical Cannabis at its First New Jersey Dispensary

Sales will commence immediately at the Apothecarium in Phillipsburg.

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NEW YORK and TORONTO, Nov. 24, 2020 /CNW/ - PRESS RELEASE - TerrAscend Corp., a North American cannabis operator, has announced that it has received the final permit from the NJ Department of Health to dispense medical cannabis from its first dispensary in New Jersey. The 3,500-square-foot dispensary, located at 55 South Main Street in downtown Phillipsburg, is situated in the historic Phillipsburg National Bank & Trust building and is the first Alternative Treatment Center (ATC) in Warren County.

The Apothecarium Phillipsburg will commence serving medical patients Nov. 24, by appointment only, followed by an official grand opening on Nov. 30, 2020. The new full service medical dispensary offers a broad range of patient education resources, including multiple private consultation rooms and highly trained wellness consultation staff to assist patients and caregivers. TerrAscend operates a cultivation and manufacturing facility located in Boonton, N.J. and expects to open three ATCs in the Northern region of New Jersey.

"I'm thrilled to open the first of our three Apothecarium retail dispensaries in New Jersey and look forward to providing medical cannabis patients with access to the essential medicine they need," said Jason Ackerman, CEO of TerrAscend. "I'm proud of our team for their efforts in achieving this milestone and look forward to providing outstanding care and service to support the health and well-being of New Jersey residents."

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New Jersey, which recently voted to legalize a forthcoming adult-use cannabis program, is the 11th largest state in the U.S. by population, with nearly 9 million residents, and more than 94,000 registered medical cannabis patients. The company expects to open the remaining two ATCs, or dispensaries, in 2021, upon regulatory approval. The Northern region of New Jersey has the highest density of patients in the state, and TerrAscend is one of four permit holders.

Greg Rochlin, CEO of TerrAscend Northeast, added, "With production at our Boonton cultivation and manufacturing facility scaling up, we have assembled a comprehensive portfolio of high-quality cannabis products and brands to serve this rapidly growing market. As with all of our Apothecarium dispensaries, we are committed to providing patients with quality medical cannabis in a welcoming environment with empathy, education and ongoing personal support."

The Apothecarium Phillipsburg offers a wide variety of medical cannabis products, including dried flower, vaporizable and activated oils, pre-rolls, capsules, tinctures, topicals and a comprehensive selection of smoking and ancillary products. Additionally, the new dispensary carries TerrAscend's recently launched Kind Tree branded cannabis products grown at the company's Boonton Facility. Like other Apothecarium stores, the modern, tech-forward aesthetic is designed to be both comfortable and easy to navigate for seniors, first-time dispensary visitors, and patients with serious medical conditions.

To comply with new state COVID-19 restrictions and CDC guidelines, in-person visits require pre-registration and only patients with appointments are permitted to shop in the store. The dispensary also offers online ordering and in-store pickup, with curbside pickup and delivery service launching shortly. All Apothecarium dispensaries have implemented strict safety standards to protect guests and team members. The company's New Jersey safety protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.