Cannabis Company TerrAscend Corp. Halting Operations in Michigan

Cannabis company TerrAscend Corp. halting operations in Michigan

GRAND RAPIDS, Mich. (WOOD) — Cannabis company TerrAscend Corp. is pulling out of Michigan, calling the state an “extremely difficult market.” TerrAscend is the parent company of brands like GAGE and Cookies, which have locations in West Michigan. In fact, TerrAscend has 20 locations throughout the state that will be closing, as well as four cultivation and processing facilities. The company expects to be out of Michigan by the end of the year. P…

CRA Director Hanna Urges Cannabis Community To Lobby Michigan Legislature For Changes

LANSING – Cannabis Regulatory Agency Director Brian Hanna said, during the agency’s quarterly public meeting, that if industry members want to see change, the best way may be to talk directly with state lawmakers. CRA enforces the laws, it doesn’t make them.  “We understand that there is oversupply in the state of Michigan,” he said. “We understand that there are people that are still cheating in the regulated environment, and we continue to hav…

Major cannabis company to shut down its entire Michigan operation

Publicly-traded TerrAscend Corp., owner of Gage Cannabis, plans to exit the Michigan market by September, acknowledging the financial bloodletting of operating in Michigan’s low-margin marijuana industry. The company’s recent announcement stated it would close all 20 of its dispensaries in the state along with its four cultivation... Please login to read all 756 words.

TerrAscend Announces Plan to Exit ‘Extremely Difficult’ Michigan Market

Multi-state cannabis company TerrAscend Corp. on Tuesday announced it is exiting the Michigan market, planning to sell or divest the company's assets in the state, which include four cultivation and processing facilities, 20 retail dispensaries, and real estate. The company plans to use proceeds from the sales to pay down existing debt. In a statement, TerrAscend Executive Chairman Jason Wild called the decision "strategic" and said it followed …