TerrAscend Corp. (
CSE: C.TER,
Forum) on Friday reported financial results for the fourth quarter and financial year ended December 31, 2017.
“2017 was an exciting and transformative year for TerrAscend and our shareholders,’’ said TerrAscend CEO Dr. Michael Nashat. “We achieved many milestones during the year that included taking the company public, raising in excess of $60 million in capital, and commencing operations at our flagship Mississauga facility,” he said.
“We are now focused on executing our business plan and becoming a premier provider of quality products, brands and services for the global cannabinoid market.”
The company incurred a net loss of $1,057,489 for the quarter ended December 31, 2017 primarily due to an increase in expenses attributed to the expansion of its business in anticipation of the company securing its sales license.
Cash and cash equivalents stood at $51.6 million at the end of December, 2017.
More information can be found
here.
TerrAscend was also in the news recently when
its Solace Health Subsidiary was awarded its license to cultivate cannabis from Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
Full Disclosure: TerrAscend Corp.
is a paid client of Stockhouse Publishing.