TerrAscend Corp (CSE: TER) has completed its expansion project within the state of New Jersey. The company this morning announced the completion of the second phase of construction at the firms cultivation and manufacturing facility, with the phase bringing an additional 80,000 square feet in cultivation capacity online for the firm.
With the completion of the second phase of construction, the current footprint of the facility is reportedly at 140,000 square feet, with the company having the ability to further increase that figure to 240,000. The facility currently consists of an on-site greenhouse as well as a post-harvest manufacturing facility.
The expanded capacity within New Jersey is said to enable the company to expand its product offerings within the state. While currently offering just wholesale and retail flower sales from the current cultivation capacity, the expanded space will now allow the company to begin offering items such as pre-rolls, extracted distillate and oils, as well as Ilera branded products.
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The first harvests from the expanded indoor operation are anticipated to be completed in Q1 2021.
TerrAscend last traded at $12.73 on the CSE.
Information for this briefing was found via Sedar and TerrAscend Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
