Terrace, created by a group of pioneers in the cannabis space, is a Canadian company focused on the development and acquisition of international cannabis assets.
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I’m Nadika Viswakula for Investmentpitch Media
Terrace Global Inc. is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “TRCE”, following its qualifying transaction with Capital Pool Company Apollo II Acquisition Corp.
Terrace, created by a group of pioneers in the cannabis space, is a Canadian company focused on the development and acquisition of international cannabis assets.
Francisco Ortiz von Bismarck, Co-Founder and CEO, stated: “We are very proud to be listed on the TSXV and pleased to be able to avail ourselves of the Canadian capital markets through a stock exchange that has become the world leader in the cannabis sector. Conducting our business in federally legal jurisdictions has allowed us to be able to list on the TSXV and we hope to continue to grow our business globally as a result. Listing on the TSXV was an important milestone for our Company and we will continue now our focus on developing operations in countries where we can cultivate at a low-cost and that have domestic demand for cannabis products and derivatives. We see Uruguay as our existing cultivation and sales platform with Portugal representing a significant opportunity for future growth as an entry point into the European Union.”
The company, having recently completed an oversubscribed financing of $17 million, has approximately $20 million in cash on hand, and is fully funded to complete the build out of its operations in Uruguay, Spain and Portugal.
Terrace has an option to acquire 100% of Oransur, which holds a hemp production license in Uruguay.
Oransur leases farms from across Uruguay to cultivate various crops with proprietary and imported genetics.
It currently operates 150 acres with the ability to expand its production to 1,250 acres.
Terrace also has an option to acquire 33% of Faises, which holds 1 of only 2 licenses in Uruguay to produce and distribute recreational cannabis.
Terrace owns 100% of Pharmabinoide, a Spanish company that cultivates hemp for industrial use.
It is in the process of being accredited by the Spanish Medicines and Health Products Agency to allow its products to be certified for medical and research purposes.
Terrace owns 100% of Terra Nova, a Portuguese company positioned to be a leading European producer of medical cannabis and industrial hemp.
Terra Nova has a pre-license, which permits the construction of up to a 350,000 sq. ft. greenhouse and 2.5 acres of outdoor cultivation.
Terra Nova expects to complete construction of the greenhouse in the third quarter of 2020.
The final license, to be issued upon final inspection, will allow for cultivation, importation, and exportation of Cannabis at its site near Palmela,
The shares are trading at $0.20.
For more information, please visit the company’s website www.TerraceGlobal.ca, contact Francisco Ortiz von Bismarck, CEO, at 242-810-7628 or email info@TerraceGlobal.ca.
I’m Nadika Viswakula for Investmentpitch Media
