TerrAscend & Cookies Partner to Open Third Cookies Dispensary in Michigan

Cookies Co-founder Berner to host grand opening event on April 8 ^th in Ann Arbor

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 open a Cookies dispensary in Ann Arbor and host a grand opening celebration on April 8 th . Located in the heart of Ann Arbor at 2460 W. Stadium Blvd., the new flagship cannabis provisioning center will be operated by Gage in exclusive partnership with Cookies.

"To me, Michigan is one of the biggest markets next to California ," said Berner, Co-Founder and CEO of Cookies. " Michigan smokers are very educated and spoiled for choice just like us in Cali . I spent a lot of time in Ann Arbor on off days during my music tour, and love the vibe. I look forward to bringing our customer journey and new flavors to one of my favorite towns."

At approximately 3,900 square-foot, the dispensary is expected to employ 25 local residents and will carry the entire family of Cookies products including Cookies, Lemonnade, Runtz, PowerzzzUp, Minntz and Grandiflora lines. Gage is the exclusive partner of Cookies in Michigan for cultivation, processing and retail, with the partnership recently extended until 2026.With the new location, TerrAscend now operates 26 dispensaries serving medical and adult-use cannabis markets in the U.S. and Canada , including 3 Cookies dispensaries in Michigan and 1 in Toronto.

" Ann Arbor knows great cannabis," said Jason Wild , Executive Chairman of TerrAscend. "We are excited to bring the Cookies experience, its deep library of high-quality genetics, and world-class product selection to Ann Arbor . Cookies is the most recognized brand in cannabis. We look forward to bringing its unique customer experience to more markets."

The grand opening weekend will include music, a gaming trailer, food trucks and special giveaways. Cookies' Co-Founder and CEO, Berner, will be in Ann Arbor for the April 8 ^th grand opening with his signature blue Cookies bus and a group of VIP friends.

More information can be found at www.cookiesmichigan.com or on Instagram @cookies.annarbor.

TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania , New Jersey , Michigan and California , licensed cultivation and processing operations in Maryland 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 .

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 over 40 retail locations in 17 markets across 4 countries. Cookies was named one of America's Hottest Brands of 2021 by AdAge; the first cannabis brand to ever receive this accolade. Learn more at cookies.co .

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.

Actual results and developments may differ materially from those contemplated by these statements. Such forward-looking statements are based on certain assumptions regarding expected growth, results of operations, performance, industry trends and growth opportunities. These assumptions may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking 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 described in our Registration Statement on Form 10 and other filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov , and other filings with Canadian securities regulators, including TerrAscend's management information circular dated October 4, 2021 , and TerrAscend's most recently filed MD&A, both filed with the Canadian securities regulators and available under TerrAscend's profile on SEDAR at www.sedar.com .

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

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