TerrAscend: Seasoned healthcare, pharmacy and cannabis industry veteran to manage and lead all operations – Form 8-K
Experienced healthcare, pharmacy and cannabis industry veteran to manage and lead all operations
NEW YORK and TORONTO, Jan. 5, 2022 / CNW / – TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the appointment of Ziad Ghanem as President and Chief Operating Officer with immediate effect. Mr. Ghanem brings nearly two decades of experience in large-scale healthcare, cannabis, pharmacy and retail operations to TerrAscend where he will manage and oversee all operations.
“Ziad’s expertise and experience in the cannabis industry, as well as his significant experience in the health and pharmaceutical fields, is a rare find and makes him the ideal person for this role,” said said Jason Wild, executive chairman of TerrAscend. “Ziad’s demonstrated success in business optimization, financial management and leadership development will be a major asset for TerrAscend as we execute our growth strategy”
Mr. Ghanem added, “TerrAscend is building one of the strongest operational footprints in the country’s highest quality cannabis markets. I am excited to join this team and help create value for the patients, consumers and shareholders of TerrAscend. ”
Most recently, Mr. Ghanem served as President of All Markets at Parallel, one of the largest private, vertically integrated, multi-state cannabis operators in the United States. Prior to entering the cannabis industry, Mr. Ghanem gained over 15 years of leadership experience at Walgreens Boots Alliance. Mr. Ghanem holds a doctorate in pharmacy from the University of Houston.
TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey and California, licensed cultivation and processing operations in Maryland, and licensed production in Canada. TerrAscend operates retail outlets at The Apothecarium dispensary as well as large-scale growing, processing and manufacturing facilities on the east and west coasts. TerrAscend’s cultivation and manufacturing practices produce consistent, high-quality cannabis, offering a cutting-edge product selection to the adult medical and legal markets. The Company owns several synergistic businesses and brands, including The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections and Arise Bioscience Inc. For more information, visit www.terrascend.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press 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 “could”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “Believe,” intention “,” plan “,” forecast “,” project “,” estimate “,” outlook “and other similar expressions. Forward-looking statements contained in this press release include, without limitation, statements regarding the Company’s objectives with respect to its financial condition, value proposition, market position and business strategy. Forward-looking information is not a guarantee of future performance and is based on a number of management’s estimates and assumptions in light of management’s experience and perception of trends, current conditions and trends. expected developments, as well as other factors relevant in the circumstances, including assumptions regarding current and future market conditions, the current and future regulatory environment and the availability of licenses, approvals and permits.
Actual results and developments may differ materially from those contemplated by these statements. These forward-looking statements are based on certain assumptions regarding expected growth, results of operations, performance, industry trends and growth opportunities. These assumptions 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. These risks and uncertainties include, without limitation, current and future market conditions; risks relating to federal, state, provincial, territorial, local and foreign laws, rules and regulations, including United States federal and state laws relating to cannabis operations in the United States; and the risk factors described in our registration statement on Form 10 and other documents filed with the United States Securities and Exchange Commission, which are available at www.sec.gov, and other documents filed with Canadian securities regulators, including TerrAscend’s management information circular dated October 4, 2021 and the latest MD&A filed by TerrAscend, both filed with Canadian regulators in securities and available under TerrAscend’s profile on SEDAR at www.sedar.com.
The statements contained in this press release are made as of the date of this press release. TerrAscend disclaims any intention 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.
Warning regarding cannabis operations in the United States
Investors should note that there are significant legal restrictions and regulations governing the cannabis industry in the United States. Cannabis remains a Schedule I drug under the United States Controlled Substances Act, making it illegal under federal law in the United States, among other things, to cultivate, distribute or possess cannabis in the United States. United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis of prosecution under applicable United States federal money laundering law.
While the approach to the enforcement of these laws by the federal government in the United States tends not to be applied against individuals and businesses who comply with medical or adult cannabis programs. in states where these programs are legal, strict compliance with state laws regarding cannabis will not exonerate TerrAscend of its liability under US federal law, nor provide a defense to any federal proceedings that may be brought against TerrAscend. The application of federal laws in the United States represents a material risk to the business of TerrAscend and any proceedings brought against TerrAscend under it may adversely affect the operations and financial performance of TerrAscend.