TerrAscend Canada has entered into a multi-year cultivation agreement with PharmHouse, a joint venture between Canopy Rivers and the principals and operators of a North American greenhouse produce company.
Under the terms of the agreement, PharmHouse will grow and supply cannabis to TerrAscend Canada from an existing 1.3 million square foot greenhouse, located in Leamington, Ontario. Once fully licensed, the production of flower, trim and clones from 20% of the dedicated flowering space at the facility will be made available to TerrAscend Canada.
TerrAscend Canada may provide proprietary genetic strains to PharmHouse and help oversee production in conjunction with their operators and quality assurance professionals. Cultivation is anticipated to commence in 2019, subject to receipt by PharmHouse of all applicable regulatory licenses and approvals.
Michael Nashat, President and Chief Executive Officer, stated, "This agreement provides TerrAscend with access to high quality greenhouse grown cannabis and significantly advances our strategy in focusing on the production of premium products and standardized dosage forms, consistent with GMP standards. Partnering with PharmHouse further offers TerrAscend large-scale cultivation expertise and production capabilities."
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