TerrAscend (CSE:TER) announced a new strategic investment into Think AHLOT Corporation, a company developing novel cannabis products and accessories.
As quoted in the press release:
Pursuant to the agreement, TerrAscend’s wholly-owned entity will issue convertible notes of up to $2.5 million to AHLOT to be utilized towards increasing sales & marketing, product development, operations and general corporate purposes. Additionally, TerrAscend, through its wholly-owned affiliate, Solace Health Inc., will provide fulfillment and distribution services on behalf of AHLOT that will enable AHLOT to commence the development and sale of licensed cannabis products for AHLOT’s unique product portfolio.
Robyn Rabinovich, TerrAscend’s Vice President of Business Development, noted “We are pleased to make a strategic investment in AHLOT that is in line with our belief that growth within the cannabis space extends beyond cultivation. AHLOT’s product offerings bring an innovative approach to the industry with smart, quality products that will serve our patients and consumers well. We look forward to working on this exciting collaborative agreement with Greg, Martin and the AHLOT team.”
Greg Pantelic added, “We are proud to partner with TerrAscend as both companies share the belief that aggregation and curation of quality cannabis products will provide patients and consumers with a more holistic cannabis experience. This is an important milestone, as we can now bring our full vision to life. Get ready for A Higher Level Of Thought.”