The Grass Is Now Greener On The East Coast - TerrAscend Debuts Cookies And Gage Brands in New Jersey
TORONTO, June 2, 2022 /CNW/ - TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it will officially launch Cookies and Gage-branded cannabis products in the State of New Jersey, on Saturday, June 11th. These products will be available exclusively at The Apothecarium locations in Maplewood and Phillipsburg.
Cookies, California's top-selling cannabis lifestyle brand, co-founded by rapper and entrepreneur Berner alongside his renowned breeder and cultivation partner, Jai, is the most globally recognized cannabis brand in the world. Cookies is known for its game-changing genetics and diverse selection of over 70 cannabis cultivars and 2,000 products. Cookies' initial New Jersey products will feature eighths of proprietary cultivars, including Gary Payton, Georgia Pie, Apples and Bananas, Soap, Doggy Bag, Pancakes, Jealousy, and Laughing Gas.
In the coming months, TerrAscend plans to offer additional Cookies products including accessories, more cultivars and vape cartridges at its "Cookies Corners" in all three New Jersey Apothecarium dispensaries, subject to regulatory approval.
Gage, Michigan's premium cannabis brand debuted in 2019 and has since become a household name in the state. Known for their high-quality cannabis, world class genetics and award-winning retail stores, Gage cultivates exceptional cannabis with uncompromising high standards for customers who love and respect the potency of flower. In March 2022, TerrAscend closed on the acquisition of Gage.
Gage's East Coast launch includes eighths and liquid live resin cartridges in the cultivars Banana Bread and Kush Mintz. TerrAscend plans to launch additional Gage-branded eighths and vape carts in cultivars like Funfetti, Ether OG, Strawberry Shortcake, Sundae Driver, Sweet Tartz, Grape Gummiez, Rainbow Pie, Beach Berries, Dream Candy, Loud Cake, and Popscotti in the coming weeks. New Jersey customers can also find Gage accessories and apparel at all Apothecarium locations.
"We're excited to be launching these influential cannabis brands in the fastest growing adult use market on the East Coast" said Jason Wild, Executive Chairman of TerrAscend. "Launching Cookies and Gage alongside our Kind Tree and Valhalla brands demonstrates our commitment to offering the best products and experiences in the Garden State."
"We have taken our time to ensure quality and exclusive flavor are properly represented in this market. With the streets thriving on the unregulated market and the access to quality weed being more available than ever, it's important that we come correct when we drop. I'm so proud of TerrAscend for taking the time to dial in our SOPs and dedicating their facility to our brand. The East Coast can expect an evolving menu that will spoil the lungs of smokers and connoisseurs," said Berner, Co-Founder and CEO of Cookies.
To celebrate the launch of GAGE and Cookies, the Company will offer in-store promotions and prizes at its Maplewood and Phillipsburg Apothecarium locations on June 11th. For more information about product availability and store hours, please visit The Apothecarium website.
To find up-to-date information on local Gage and Cookies products, follow @CookiesNewJersey, @GageNewJersey and @Apothecariumnj on Instagram.
TerrAscend is the leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, Michigan and California, licensed cultivation and processing operations in Maryland and licensed production in Canada. TerrAscend operates The Apothecarium and Gage dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. TerrAscend's cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The Company owns several synergistic businesses and brands, including Gage Cannabis, The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information, visit www.terrascend.com.
Cookies, founded in 2010 by Billboard-charting rapper and entrepreneur Berner and Bay Area breeder and cultivator Jai, is the most globally recognized cannabis company in the world. Cookies values the power of the plant and focuses on creating game-changing genetics. The company offers a collection of over 70 proprietary cannabis cultivars and more than 2,000 products. Cookies also actively works to enrich communities disproportionately impacted by the War on Drugs through advocacy and social equity initiatives. Headquartered in San Francisco, the company opened its first retail store in 2018 in Los Angeles, and has since expanded to over 45 retail locations in 17 markets across 5 countries. Cookies was named one of America's Hottest Brands of 2021 by AdAge; the first cannabis brand to ever receive this accolade.
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.
Forward-looking statements in this news release include, but are not limited to: statements with respect to the New Jersey market generally and future consumer access to TerrAscend brands in New Jersey. Actual results and developments may differ materially from those contemplated by these statements. Such forward-looking statements are based on certain assumptions regarding expected growth, results of operations, performance, industry trends and growth opportunities. While TerrAscend considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; and the risk factors set out in TerrAscend's management information circular dated October 4, 2021, and TerrAscend's most recently filed MD&A, both filed with the Canadian securities regulators and available under TerrAscend's profile on SEDAR at www.sedar.com.
The statements in this press release are made as of the date of this release. TerrAscend disclaims any intent or obligation to update 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.
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend's operations and financial performance.