TerrAscend Provides Strategic Capital to Think AHLOT Corporation, a Leading Cannabis Innovation Company
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TORONTO, May 1, 2018 /CNW/ - TerrAscend Corp. (CSE:TER) ("TerrAscend" or the "Company") is pleased to announce that the Company has made a strategic investment in Think AHLOT Corporation ("AHLOT"), an award-winning cannabis innovation company that creates groundbreaking cannabis products and accessories.
AHLOT is operated by partners Greg Pantelic, Founder & Chief Executive Officer, and Martin Strazovec, Executive Vice President & Chief Creative Officer, bringing strong branding, marketing and product development expertise to the marketplace. The Company is thrilled to find strategic partners to complement TerrAscend's innovative cannabis portfolio and bring truly unique products to Canadian patients and consumers. TerrAscend will provide AHLOT with corporate and regulatory guidance to support AHLOT's rapid growth.
Pursuant to the agreement, TerrAscend's wholly-owned entity will issue convertible notes of up to $2.5 million to AHLOT to be utilized towards increasing sales & marketing, product development, operations and general corporate purposes. Additionally, TerrAscend, through its wholly-owned affiliate, Solace Health Inc., will provide fulfillment and distribution services on behalf of AHLOT that will enable AHLOT to commence the development and sale of licensed cannabis products for AHLOT's unique product portfolio.
Please visit www.thinkahlot.com to see more information on AHLOT.
Robyn Rabinovich, TerrAscend's Vice President of Business Development, noted "We are pleased to make a strategic investment in AHLOT that is in line with our belief that growth within the cannabis space extends beyond cultivation. AHLOT's product offerings bring an innovative approach to the industry with smart, quality products that will serve our patients and consumers well. We look forward to working on this exciting collaborative agreement with Greg, Martin and the AHLOT team."
Greg Pantelic added, "We are proud to partner with TerrAscend as both companies share the belief that aggregation and curation of quality cannabis products will provide patients and consumers with a more holistic cannabis experience. This is an important milestone, as we can now bring our full vision to life. Get ready for A Higher Level Of Thought."
TerrAscend is a biopharmaceutical and wellness company that is committed to quality products, brands and services for the global cannabinoid market. The Company provides support to medical consumers through its wholly-owned subsidiaries, Solace Health Inc., a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations and Terra Health Network Inc., a clinical support program and education platform led by healthcare professionals.
AHLOT stands for A Higher Level Of Thought, a statement of both effect and intent, celebrating a refined relationship with cannabis. AHLOT partners with like-minded brands to offer customers the most thoughtful choices in the industry. Best-known for its award-winning customizable Ritual Box, a modular storage system popular with a growing list of aficionados, celebrities, Licensed Producers and other progressive companies, AHLOT seeks to inspire the thinker in each of us. AHLOT sees an opportunity to build a different kind of company, one that crafts beautiful cannabis experiences for people who are actively shaping the ascendance of a new culture.
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although TerrAscend believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because TerrAscend can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. TerrAscend undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of TerrAscend, its securities, or financial or operating results (as applicable). TerrAscend disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.