Business
Canopy Rivers Portfolio Company Terrascend Announces Acquisition of Vertically-Integrated Pennsylvania Cannabis Operator
Canopy Rivers Portfolio Company Terrascend Announces Acquisition of Vertically-Integrated ...
About this update from Terrascend Corp.
[{"type":"text","content":"\n\n\n\nCanopy Rivers Portfolio Company Terrascend Announces Acquisition of Vertically-Integrated Pennsylvania Cannabis Operator\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 6, 2019\n\n\n\nTORONTO, Aug. 6, 2019 /CNW/ - Canopy Rivers Inc. (\"Canopy Rivers\" or the \"Company\") (TSXV: RIV) (OTC: CNPOF ) is pleased to announce its portfolio company, TerrAscend Corp. (\"TerrAscend\") (CSE: TER) (OTCQX: TRSSF), has signed a definitive agreement to acquire Ilera Healthcare (\"Ilera\"), a vertically-integrated cannabis cultivator, processor, and dispensary operator in Pennsylvania. Ilera's state-of-the-art, fully integrated seed-to-sale operations adds to TerrAscend's growing global footprint, currently spanning multiple U.S. states, Canada and the European Union.\n\n \n \n\n \n\"TerrAscend's rapid expansion in the U.S. has been driven by strategic, accretive acquisitions of quality operators with strong track records of success,\" said Narbe Alexandrian, President and CEO of Canopy Rivers. \"We view the Ilera acquisition as another important step by TerrAscend as it grows its revenue-generating operations, expands its U.S. footprint in new states, and continues to scale its global business operations.\"\nIlera is one of only five operators in the state of Pennsylvania to have been awarded a \"super licence\" to grow, process and sell cannabis. Through its state-of-the-art facility in Waterfall, Pennsylvania, Ilera has a genetic library of more than 170 cannabis strains, a modern greenhouse designed for optimal plant growth and minimal environmental impact, clean CO2 and ethanol extraction capabilities, and cutting-edge packaging technology. In addition to selling its products in its own dispensary, Ilera distributes its dried flower, concentrates, tinctures, and topicals to 50 of Pennsylvania's 52 medical cannabis dispensaries. With this acquisition, TerrAscend plans on launching its own suite of brands in the Pennsylvania market, including its California-based Valhalla Confections and State Flower brands as well as its premium Canadian...