TerrAscend Corp (OTCMKTS: TRSSF) Is Today's Cannabis Focus

Shares of TerrAscend Corp (OTCMKTS: TRSSF) have pretty much flatlined at the $6 level for the past few months. Traders have been waiting for TerrAscend to go on another bull run like last year when the stock ran from $3 in August to $10 in October. While the stock hasn't done much in 2019, there is a lot going on behind the scenes that make TerrAscend an attractive cannabis play. Taking a closer look, we at Insider Financial like what we see with TerrAscend Corp. TRSSF Daily ChartTerrAscend BackgroundFirst up, a little background info for those of you that are not familiar with TRSSF. TerrAscend is a biopharmaceutical and wellness company that is committed to quality products, brands, and services for the global cannabinoid market. The Company participates in the medical and legal adult-use market in Canada and in US states where cannabis has been legalized for therapeutic or adult-use. TerrAscend operates a number of synergistic businesses, including Arise Bioscience Inc., a manufacturer, and distributor of hemp-derived products, Ascendant Laboratories Inc., a biotechnology and licensing Company committed to the continuous improvement of cannabinoid expressing plants, and Solace RX Inc., a proposed drug preparation premises focused on the development of novel formulations and dosage forms.Big Expectations for 2019TerrAscend is anticipating a big 2019 with forecasted revenues of C$135 million. The company said that the key drivers behind its revenue growth include:

• Anticipated revenue attributable to the acquisition of The Apothecarium (anticipated closing in Q2 2019);
• Continued growth in Canada in both the medical and adult-use markets, fueled by the ongoing expansion of the Company's Mississauga facility (to be completed in Q2 2019) and commencement of pharmaceutical and nutraceutical compounding activities at the Drug Preparation Premises (DPP);
• Worldwide sales growth of hemp-derived products developed, manufactured, and distributed by Arise Bioscience; and
• Export of THC and hemp-based CBD products to Germany and other international markets once GMP certification is obtained (expected in the coming weeks).

The Apothecarium DealOn February 11, 2019, the Company announced a series of transactions to facilitate the acquisition of The Apothecarium, a multi-state award winning retail dispensary network. As part of the transactions, the Company acquired a vertically integrated operation in Nevada with cultivation, processing, and an Apothecarium dispensary, as well as Valhalla Confections, a provider of leading premium edible products. The Apothecarium's four retail dispensaries in California and Nevada provide quality cannabis to both medical patients and adult-use customers with combined 2018 revenues in excess of US$45 million. The Apothecarium's flagship location has been named the best-designed dispensary in the United States by Architectural Digest.New Jersey OperationsLast year, TerrAscend was awarded the right to a vertically integrated license in New Jersey, along with strategic minority partners. The operations will be in Northern New Jersey and include approximately 80,000 sq. ft. of cultivation and 40,000 sq. ft. of processing on the 16-acre campus. In addition, the company will be opening its first East Coast Apothecarium location in Philipsburg, NJ in Q4 2019.Bottom LineCurrently trading with a market cap of $542 million, TRSSF is an exciting cannabis play for investors. With the company on track towards C$135 million in revenues, TRSSF should be trading above $10 when compared to the valuation of other cannabis players. The going metric right now is 10x revenues. When you take into account the construction on the Mississauga facility, which will be completed in Q2 2019 and expand cultivation by 140% and processing capacity by 800%, and TerrAscend about to receive GMP certification allowing export to Germany and other international markets, the share price should indeed be north of $10. It's not a matter of if, but when we see a higher share price. At current levels, TerrAscend is a discount entry opportunity.We will be updating our subscribers as soon as we know more. For the latest updates on TRSSF, sign up below!Disclosure: We have no position in TRSSF and have not been compensated for this article.Photo by Jerome Dominici from Pexels