TORONTO, Oct. 16, 2018 /CNW/ - TerrAscend Corp. (CSE: TER) ("TerrAscend" or the "Company"), today announced the unveiling of Haven Street ("Haven St."), a premium cannabis brand for the Canadian adult-use market that will launch nationally on October 17, 2018 with 48 unique SKUs in dry flower and pre-roll forms.
Upon launch, the Haven St. brand will consist of twelve strains and multiple formats ranging from single and 5-pack pre-rolls to 1g and 30g dry flower formats.
Positioned for the premium segment of the market, Haven St. was inspired by the welcoming nature of a neighbourhood that invites exploration and encourages new experiences. TerrAscend conducted extensive consumer research to develop the Haven St. suite of products targeting adult consumers who enjoy cannabis, value variety and seek premium experiences. The dry flower and pre-roll selections of Haven St. are designed to appeal to consumers who are loyal to a trusted, quality brand that offers multiple options for their varied moods or occasions. The strain offerings are segmented by five consumer need states: Peace, Reset, Focus, Drift and Rise.
"We have taken a consumer-centric approach to developing the Haven St. brand while ensuring we deliver a mature, premium experience across all aspects of the consumer journey," said Keith Gillespie, TerrAscend's Adult Use, VP of Marketing.
"We believe our premium quality Haven St. products will offer a distinctive brand that consumers can trust, ensure recognition at the point of sale, and will enable us to differentiate ourselves in the emerging adult-use cannabis market. Our unique street-like address system that ranges from 100 - 500 and categorizes our products from low THC to high THC creates a simple way for adults to explore our cannabis offering. Within the Haven St. neighbourhood, every address leads to a new experience. Wherever you're going, Haven St. can take you there," added Gillespie.
Haven St. has secured coast-to-coast distribution in the legal adult-use channel spanning BC, Ontario, Nova Scotia and PEI, and is currently fulfilling initial purchase orders from the provinces. Distribution for additional provinces is planned before the end of 2018. Haven St. has been named a participant in the first ever AHLOT Cannabis Collections™ Discovery Series Vol.1™, which brings together five different licensed producers into a single experiential consumer offering.
For more information about Haven St., please visit us at: www.havenst.ca or on Social Media as follows:
- Linkedin: HavenStreet
- Twitter: ExploreHavenSt
- Facebook: ExploreHavenSt
- Instagram: ExploreHavenSt
- YouTube: Explore Haven St
About TerrAscend Corp.
TerrAscend Corp. is a biopharmaceutical and wellness company that is committed to quality products, brands and services for the global cannabinoid market. On October 9, 2018, TerrAscend announced its intentions to expand into the US market. The Company provides support to patients and consumers through its wholly-owned subsidiaries, TerrAscend Canada Inc., o/a Solace Health, a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations, Solace Health Network Inc., a clinical support program and education platform led by healthcare professionals and Solace Health, the online marketplace for the licensed producer. The Company will also participate in the adult-use market in Canada following legalization through direct and indirect supply agreements in several provinces. The Company holds a partnership with leading researchers in Ascendant Labs, a cannabis biotechnology and licensing company committed to the continuous improvement of the cannabis plant.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the US. Cannabis remains a Schedule I drug under the United States Controlled Substances Act, making it illegal under federal law in the US to cultivate, distribute or possess cannabis in the US. Furthermore, financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the US 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 US 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 the Company of liability under US federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. Following any investment made by the Company in operations in the US, enforcement of federal laws in the US will be a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company's operations and financial performance.
For further information: regarding the Company: Michael Nashat, President and Chief Executive Officer, IR@terrascend.com; Adam Kozak, Chief Financial Officer, IR@terrascend.com, 1-855-837-7295 ext. 2