Mr. Keith Stauffer reports

TERRASCEND CLOSES ON OHIO DISPENSARY ACQUISITION

Terrascend Corp. has closed its previously announced acquisition of the assets of Ratio Cannabis LLC, a cannabis dispensary located in Goshen township, Ohio. The acquisition represents Terrascend's initial entry into its sixth state, Ohio, and is expected to be immediately accretive on an EBITDA (earnings before interest, taxes, depreciation and amortization) and cash flow basis. This acquisition increases Terrascend's retail footprint to 39 dispensaries across six U.S. states and Canada. The company intends to acquire additional Ohio dispensaries in the future.

"Ratio Cannabis is a strong performer, with no competition within a 20-mile radius, generating $9-million in annualized revenue. Entering Ohio has long been a priority for us," stated Jason Wild, executive chairman of Terrascend. "This acquisition is a great first step in Ohio and we will continue to aggressively pursue additional accretive dispensary acquisitions, up to the eight dispensary state limit."

About Terrascend Corp.

Terrascend is a leading Toronto Stock Exchange-listed cannabis company with interests across the North American cannabis sector, including vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan and California through Terrascend Growth Corp. and retail operations in Canada through Terrascend Canada Inc. Terrascend operates The Apothecarium, Gage and other dispensary retail locations, as well as scaled cultivation, processing and manufacturing facilities in its core markets. Terrascend's cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The company owns or licenses several synergistic businesses and brands including Gage Cannabis, The Apothecarium, Cookies, Lemonnade, Ilera Healthcare, Kind Tree, Legend, State Flower, Wana and Valhalla Confections.