TerrAscend Corp. Powers to a New All-Time Record High

TerrAscend Corp (CNSX:TER) (OTCMKTS:TRSSF) reached a new all-time high by midday today. The Canopy Rivers-partnered biopharmaceutical and wellness company is on track to attain a fifth consecutive record close on ascending volume.

Yesterday, we highlighted TerrAscend’s relative strength in an article relating to Canopy Rivers recent price weakness. The latter owns 11,285,456 common shares of TerrAscend Corp., along with 9,545,456 warrants with a $1.10 exercise price. With today’s rise in value, TER is worth approximately $155 million dollars to Canopy Rivers balance sheet.

The run is TerrAscend is very much flying under the radar. The company appears to have undertaken a low-profile approach to operations—including infrequent activity on social media. There are no third-party promoters declaring the company the next cannabis unicorn in-wait. As former TerrAscend co-founder and Chief Strategy Officer Vijay Sappani put it:

one of the most steady cannabis stock @terrascendcorp hits a new 52w high of $7.43, that slow and steady rise, focused on business, no unnecessary press releases .My kind of cannabis LP to invest and hold the stock

— Vijay Sappani 2.0 (@VJsapps) October 3, 2018

Terrascend has also been relative docile on news flow lately, although some material events have been disclosed. On August 24th, the company’s wholly-owned subsidiary Solace Health Inc. entered into an agreement with the Nova Scotia Liquor Corporation to supply the province of Nova Scotia with a variety of premium branded cannabis products for the adult-use cannabis market. The agreement called for Solace Health to initially supply 15 SKUs of dried flower cannabis product to Nova Scotia. This is on top of a 25 SKU allocation TerrAscend reached with Ontario Cannabis Retail Corporation three days prior.

More recently, TerrAscend announced an agreement with the MDM Insurance Services Inc. to establish a program for medical cannabis coverage and a framework for research on cannabis and medication utilization. The collaboration will develop suitable programs for group benefit beneficiaries using or considering the use of medical cannabis. MDM services over 1,000 companies in the areas of life, drug, extended health, disability and dental and has underwriting authority to set rates on behalf of various insurers.

The collaboration plants the seed for future revenue generation, as cannabis gains further validity as an acceptable therapeutic option. Back in February, Sun Life Financial Inc. became among the first companies to add medical marijuana as an option for its group benefits plans, marking an industry shift of growing public acceptance of cannabis.

Midas Letter will have further coverage of TerrAscend as further events warrant.

Original article: TerrAscend Corp. Powers to a New All-Time Record High

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