Cannabis News

Hill Street Announces New Structure to Focus Key Talent on Business Growth

Hill Street adds additional cannabis and beverage experience to the team

Hill Street Beverage Company Inc. (TSXV: BEER) (the "Company") is pleased to announce the expansion of its commercial development team to better align talent with its business vision and global growth strategies going forward. Hill Street is pleased to welcome Bowen Hou to the role of Director of Beverage Strategy and Development. Bowen will focus on the growth and development of its beverage businesses: alcohol-free Vin(Zero) and cannabis infused (V)ia Regal.

"We are building our capabilities and team for the future direction of our business. We were fortunate to find a unique talent with dedicated experience in both cannabis and beverages to help maximize our performance going forward on both fronts," said Craig Binkley, Co-CEO of Hill Street. "Bowen has worked with PepsiCo, Humble + Fume and Zenabis (acquired by Hexo). Add in his additional CPG experience from Church & Dwight and he's the perfect blend of mainstream blue-chip experience that has pivoted into the emerging world of cannabis. It is an ideal combination that was exactly what we were looking for."

At Humble + Fume, Bowen was responsible for branding, marketing, sales and distribution through provincial cannabis boards across Canada. At Zenabis, he led the Namaste and Re Up brands. At PepsiCo, Bowen drove retail merchandising, data analytics and shopper marketing efforts, which are critical skills for Hill Street's business growth across the globe.

"As an entrepreneur, I'm thrilled to have joined Hill Street and am excited to help create and grow value for its brands and businesses. I love the beverage category and am a big believer in the bright future of both the alcohol-free wine category and the dynamic cannabis-infused beverages sector," said Bowen Hou, Director of Beverage Strategy and Development.

With Bowen's arrival, it also allows for further alignment of the commercial team with Reuban Nadesan, VP of Corporate Strategy and Development, to focus on the expansion of Hill Avenue's global DehydraTECH™ business. Reuban was deeply involved in the transaction to acquire the global usage rights to DehydraTECH™ from the Lexaria group of companies. Reuban has also been involved in the launch or expansion of all partner licensing relationships to commercialize DehydraTECH™. His dedicated focus on this business line is designed to accelerate growth and commercialization of this important asset.

The Company also announces that June Nicholson has resigned as Chief Operating Officer of the Company to pursue other opportunities.

About Hill Street Beverage Company Inc. (TSXV: BEER)

Hill Street Beverage Company is a progressive non-alcoholic beverage and cannabis solutions company. We are pioneering the space where craft consumer products meet bioscience by combining our deep CPG expertise and our rights to use Lexaria Bioscience's ground-breaking DehydraTECH™ patent portfolio for product development, licensing and B2B sales of Cannabis ingredients.

Hill Street Beverages brands include Hill Street Craft Brewed Lager, and Vin(Zero), and have won numerous medals and accolades around the world. Hill Avenue Cannabis Brands include (V)ia Regal Pink and White Grape Sparklers.

For more information on our business activities or to check out Hill Street's award-winning alcohol-free line-up and order product to be delivered straight to your home go to www.hillstreetbeverages.com.

For more information:

Lori Senecal, Interim Co-Chief Executive Officer Hill Street Beverage Company Inc.,
lori@hillstreetbevco.com

Craig Binkley, Interim Co-Chief Executive Officer Hill Street Beverage Company Inc.,
craig@hillstreetbevco.com

FORWARD-LOOKING STATEMENTS

Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects", and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94386

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TerrAscend Corp. Logo (CNW Group/TerrAscend)

Mr. Ghanem has served as President and COO at TerrAscend since January 2022 . In that role he helped guide the company to record year-over-year revenue growth managing the daily operations at one of the strongest operating footprints in the industry. Throughout his 20-year career, Mr. Ghanem held several senior leadership positions across the pharmaceutical, healthcare services, cannabis and retail industries, including serving as President of Parallel, a vertically integrated, multi-state cannabis operator. Before entering the cannabis industry, Mr. Ghanem gained more than 15 years of experience at Walgreens and Walgreens Boots Alliance in multiple areas including operations, strategy and innovation. Mr. Ghanem holds a Doctor of Pharmacy degree from the University of Houston .

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About TerrAscend

TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania , New Jersey , Maryland , Michigan and California and retail operations 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, Legend, State Flower, and Valhalla Confections. For more information visit www.terrascend.com .

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, 2022 filed with the Securities and Exchange Commission on March 16, 2023 .

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

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/31/c7916.html

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