Terrascend Corp (CSE: TER) (OTCMKTS: TRSSF) is among the most exciting Companies in small caps that continues to see significant growth in recent months. The stock has skyrocketed and continues to move higher in recent trading. The market has seperated the clear pot stock winners from the loosers over the past two years and Terrascend is emerging as a clear winner.
Terrascend recently reported financial results for its third quarter ending September 30, 2020. The Company reported net sales of $51.0 million, representing 8% sequential and 90% year over year growth. The Company reported adjusted EBITDA of $17.8 million, an increase of 56% sequentially and adjusted EBITDA margin expanded to 35% in Q3 from 24% in Q2 and 14% in Q1
Terrascend Corp (CSE: TER) (OTCMKTS: TRSSF) is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, and California in addition to operating as a licensed producer in Canada. TerrAscend operates an award-winning chain of Apothecarium dispensary retail locations as well as scaled cultivation, processing and manufacturing facilities on both the East and West coasts. TerrAscend’s best-in-class cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use market. The Company owns a number of synergistic businesses and brands, including The Apothecarium, Ilera Healthcare, State Flower, Valhalla Confections, and Arise Bioscience Inc. Currently TerrAscend’s has 11 dispensary’s nationwide.
Terrascend owns a 67,300 sq. ft production and manufacturing facility strategically located in Mississauga, Ontario. The Company also operates a 19,000-square-foot facility in Bay Area, California with a 5,000-pound annual capacity, a 143,800-square-foot facility in Waterfall, Pennsylvania with up to 44,000-pound annual capacity and a 240,000-square-foot facility n Boonton, New Jersey; 37,000-square-foot greenhouse approved for medical cannabis cultivation. In total TerrAscend has 450,000 square feet of cultivation and production assets.
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest. Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com. We have five dispensaries in California, three in Pennsylvania and a new dispensary coming soon in Phillipsburg, NJ.
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TerrAscend is acquiring Curaleaf’s 22,000 square foot cultivation and processing facility in Frederick, Maryland. The Company’s recently signed a definitive agreement whereby TerrAscend will acquire HMS Health, LLC from Curaleaf Holdings, Inc. HMS currently operates a 22,000 square foot cultivation and processing facility in Frederick, Maryland. Today, HMS produces dried flower and oil products for the medical cannabis market and has the capability to produce edibles upon regulatory approval. TerrAscend plans to significantly expand this existing capacity in the coming year. The majority of HMS’ employees are expected to join TerrAscend’s US operations.
On November 11 TerrAscend announced the official opening of its eighth retail dispensary, located at 1850 41st Avenue, Capitola, CA. The new 3,900-square-foot Apothecarium Capitola, is the Company’s fifth dispensary in California and TerrAscend’s eighth dispensary nationwide.
The Apothecarium Capitola is a full-service recreational and medical cannabis dispensary known for its highly trained cannabis consultants and award-winning interior design. The store carries a full range of cannabis products, such as edibles, flowers, vaping products, concentrates, capsules, tinctures, topicals, and accessories. The new location will also offer online ordering at apothecarium.com for pickup and delivery.
“The Apothecarium’s Capitola dispensary will be our first California store outside of the urban Bay Area,” said Jason Ackerman, CEO of TerrAscend. “We are thrilled to expand the reach of the Apothecarium’s award winning customer centric experience and look forward to servicing guests throughout Santa Cruz county. This is in keeping with our successful East Coast model of placing dispensaries in carefully selected small cities and suburbs.”
— PotJock (@potjock) November 13, 2020
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Currently making a powerful move northbound Terrascend has emerged as a clear winner among pot stock Companies. Terrascend’s Apothecarium dispensaries are loved by consumers with the Company’s flagship San Francisco dispensary being named the best-designed dispensary in the country by Architectural Digest. Terrascend owns a 67,300 sq. ft production and manufacturing facility strategically located in Mississauga, Ontario and in total Terreascend has 450,000 square feet of cultivation and production assets. Terrascend recently reported financial results for its third quarter ending September 30, 2020. The Company reported net sales of $51.0 million, representing 8% sequential and 90% year over year growth. We will be updating on TerrAscend when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TerrAscend.
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Disclosure: we hold no position in TerrAscend either long or short and we have not been compensated for this article.