In our newest Trade To Black Podcast, Shadd Dales interviewed President and Chief Investment Officer of JW Asset Management, LLC, and TerrAscend Corp. (CNSX: TER) (OTCMKTS: TRSSF) Chairman of the Board, Jason Wild. Shadd caught up to Mr. Wild this past week at the Benzinga Cannabis Capital Conference in Miami. The topics of conversation included Jason’s thoughts on SAFE Banking, the built-in runway today’s cannabis operators have in New Jersey and more.
A veteran of high finance, Jason has been an advisor to no less than five investment partnerships with over $2 billion in assets under management. Wild is also one of the sector’s most sought after interviews as a foremost expert on the capital markets side of the industry. JW Asset Management, LLC remains the largest shareholder in TerrAscend.
Regarding New Jersey adult-use cannabis finally opening up for business last Thursday, rank & file investors weren’t the only people excited about the launch. As Jason Wild explains, the moment almost didn’t feel like reality given how long it took the state to move following unanimous approval on New Jersey Public Question 1 on November 3, 2020:
I woke up this morning—and I thought about it when I first woke up—and I was like, ‘am I still dreaming, or are we really here?’ I mean, it felt like it took awhile. We won the license in the summer of ’18, then voters voted in… November of ’20 is when they voted for it. It’s finally here. We… I am, you know, really happy that we decided to really prioritize it, you know, it was our whole approach of wanting to be in smaller numbers of states, but really have scale in those states.
As Mr. Wild opines, TerrAscend is situated in an ideal position in the New Jersey market. The company’s three stores are located near the borders of both Pennsylvania and New York, where adult-use cannabis is currently prohibited. At the last The New Jersey Cannabis Regulatory Commission (NJCRC), the organization predicted that half of all sales would be from out-of-state. Mr. Wild believes that each dispensary could generate upwards of $40 million annually given the limited amount of dispensaries that will be operating in the intermediate future.
Click on the embedded link to view our newest interview with the President and Chief Investment Officer of JW Asset Management, LLC, Jason Wild, in his own words.
To view our previous Trade To Black Podcast, click here.