Squeeze the Day! First Lemonnade Branded Dispensary Arrives In Michigan Bringing It's Sativa-Focused Family of Strains and Products

TerrAscend and Cookies Debut New Retail Concept in Center Line

TORONTO, March 21, 2023 /CNW/ - TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that its subsidiary, Gage Cannabis Co. ("Gage") will lead an exciting new era in cannabis retail with the grand opening of Lemonnade Center Line, the first sativa-focused provisioning center in Michigan. Through its partnership with Cookies, a globally recognized cannabis brand, Gage will open a 4,600 square-foot retail store located at 24729 Sherwood Avenue in Center Line, a suburb in the heart of Metro-Detroit, that will feature an exclusive selection of the most flavorful and uplifting sativa strains on the market. Lemonnade Center Line is open from 9:00 am to 9:00 pm daily.

Lemonnade embraces flavor in every sense of the word, starting with the exceptional tastes and energizing qualities of the exclusive Lemonnade strains and a wide array of infused products and cutting-edge Cookies SF apparel. Lemonnade Center Line will have the entire family of Cookies products on sale, including but not limited to the Cookies, Runtz, Minntz and Grandiflora lines. Selections from Gage's exclusive high-quality genetic catalog  of strains including, Banana Bread, Gelato Driver, Peanut Butter Crepes, Peach Cobbler, Funfetti, Cherry Pie, and Jokerz will also be on sale.

"TerrAscend is proud to introduce Lemonnade's acclaimed menu and retail experience to sativa lovers in Michigan and the Midwest," said Jason Wild, Executive Chairman of TerrAscend. "This expansion exemplifies the strength of our top-shelf product offerings and quality partnerships with the most recognized names in the industry."

"Michigan cannabis consumers always turn up for us. We are excited to open our first Lemonnade Retail Store in Michigan with our partners at TerrAscend," said Berner, Co-Founder and CEO of Cookies. "We will keep dropping fresh menus of California flavors for our loyal Michigan customers to enjoy."

To celebrate its grand opening, Lemonnade Center Line will offer on-site activations, including a live DJ, food trucks, vendors, tarot card readings, custom airbrushed tees, deals and special giveaways from 10:00 am to 5:00 pm on Saturday, March 25th. The first 100 customers will receive a free Jeeter pre-roll and Michigrown flower products. Product giveaways will also include free flower products for the first 100 customers making at least a $25 or $100 purchase.

In addition to the new Lemonnade provisioning center, Gage has dedicated significant shelf space to the display and sale of Cookies products at their locations in Adrian, Burton, Battle Creek, Ferndale, Grand Rapids, Kalamazoo, Lansing, Jackson and Traverse City.

More information can be found at cookies.co/stores/lemonnade_center_line or on Instagram @cookies.michigan.

About TerrAscend

TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan and California and licensed production in Canada. TerrAscend operates The Apothecarium and Gage 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 several synergistic businesses and brands including Gage Cannabis, The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information visit www.terrascend.com.

About Gage

Gage is a premier provider of the high-quality cannabis experience that consumers crave. We bring internationally renowned brands and high end products to the cannabis space. Throughout our journey to becoming the market's choice cannabis provider, we have leaned into creativity and innovation to successfully build our various licensed cultivation, processing and retail operations. We strive to continue our passion of providing the cannabis consumer with the world-class premium cannabis products they want and deserve. To learn more about Gage's mission for the everyday canna-connoisseur, visit www.gagecannabis.com.

About Lemonnade

Voted the #1 sativa menu, the team of industry legends behind Lemonnade are proud to deliver a menu of truly unique sativa-leaning, flavor-forward cannabis products—the result of meticulous genetics and expert breeding.

The sister brand to Cookies, Lemonnade is the highest form of the grower's art. A sativa-focused family of strains and products created for those in search of an upbeat and euphoric experience. Lemonnade was founded in 2015 by Berner and Brett Wilson (aka Growing Passion).

About Cookies

Cookies, founded in 2010 by Billboard-charting rapper and entrepreneur Berner and Bay Area breeder and cultivator Jai, is the most globally recognized cannabis company in the world. Cookies values the power of the plant and focuses on creating game-changing genetics. The company offers a collection of over 70 proprietary cannabis cultivars and more than 2,000 products. Cookies also actively works to enrich communities disproportionately impacted by the War on Drugs through advocacy and social equity initiatives. Headquartered in San Francisco, the company opened its first retail store in 2018 in Los Angeles, and has since expanded to 58 retail locations in 18 markets across 6 countries. Cookies was named one of America's Hottest Brands of 2021 by AdAge; the first cannabis brand to ever receive this accolade. To learn more about Cookies, visit cookies.co, and to learn more about Cookies CBD, visit shop.cookies.co.

Caution Regarding Cannabis Operations in the United States

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable US federal money laundering legislation.

While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend's operations and financial performance.

Forward Looking Information

This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; and the risk factors set out in the Company's most recently filed MD&A, filed with the Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com and in the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission on March 17, 2022 and as amended on March 24, 2022.

The statements in this press release are made as of the date of this release. TerrAscend disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE TerrAscend