Market News

TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) ( OTCQX: TRSSF), a leading North American cannabis operator, today reported its financial results for the second quarter ending June 30, 2022 . All amounts are expressed in U.S. dollars unless indicated otherwise and are prepared under U.S. Generally Accepted Accounting principles (GAAP).

TerrAscend Corp. (CNW Group/TerrAscend)

Second Quarter 2022 Financial Highlights

  • Net Sales increased 31% sequentially to $65 million as compared to $50 million in Q1 2022.
  • Gross Profit Margin was 35.5% as compared to 30.4% in Q1 2022.
  • Adjusted Gross Profit Margin 1 was 47.1% as compared to 38.4% in Q1 2022.
  • Adjusted EBITDA 1 was $5.8 million as compared to $3.3 million in Q1 2022.
  • Adjusted EBITDA Margin 1 was 8.9% as compared to 6.6% in Q1 2022.
  • GAAP Net Income was $14.2 million as compared to net loss of $16 million in Q1 2022.
  • Cash and Cash Equivalents totaled $49 million as of June 30, 2022 .

Jason Wild , Executive Chairman of TerrAscend, commented, "We grew revenue 31% sequentially for the second quarter as New Jersey adult-use sales got off to a great start.  Growth should continue as we remain on track for each of our stores in New Jersey to achieve at least a $40 million run rate in their first full year of adult-use sales.  Adjusted EBITDA and margins grew sequentially, and I expect this to continue into the second half of the year.  The leadership team, which has been significantly bolstered over the past few quarters, remains focused on building the business for success over the long term and we will continue to make decisions with that mindset."

Ziad Ghanem , President and Chief Operating Officer, added, "TerrAscend is focused on engaging our team members, listening to our customers, delivering quality products, and achieving operational excellence. Between our state line up and the wide-open map that will allow us to be selective on where we go next, TerrAscend is set up for strong growth for years to come. We will achieve that growth while improving margins and driving profitability."

Financial Summary Q2 2022 and Comparative Periods

(in millions of U.S. Dollars)


Q2 2021



Q1 2022



Q2 2022


Revenue, net



58.7




49.7




64.8


QoQ increase



10.1

%



0.9

%



30.5

%

YoY increase



71.6

%



-6.9

%



10.4

%











Gross profit



34.8




15.1




23.0


Adjusted Gross profit 1



35.9




19.1




30.5


Adjusted gross margin %



61.1

%



38.4

%



47.1

%











Share-based compensation expense



4.6




3.4




4.4


General & Administrative expense (excluding share based comp)



16.1




19.2




29.5


% of revenue, net



27.4

%



38.7

%



45.5

%











Adjusted EBITDA 1



23.2




3.3




5.8


Adjusted EBITDA % of revenue, net



39.5

%



6.6

%



8.9

%











Net income (loss)



(29.7)




(16.0)




14.2


Cash used in operations



(16.3)




(18.8)




(16.1)


1. Adjusted EBITDA and the respective margin and Adjusted Gross Profit and the respective margin are non-GAAP measures. Please see discussion and reconciliation of non-GAAP measures at the end of this press release.

Second Quarter 2022 Business and Operational Highlights

  • Held the grand opening of adult-use sales on April 21 st at its Apothecarium stores in Maplewood and Phillipsburg, New Jersey , two of only twelve dispensaries at the time to open for adult-use sales in the state.
  • Approved for hydrocarbon extraction in New Jersery with initial products launched in the quarter.
  • Successfully launched Cookies and Gage brands in New Jersey , resulting in a 40% increase in sales for the first full weekend versus the prior weekend with continued momentum and growth since launch.
  • Signed lease on new facility in New Jersey , which will accommodate expanded capacity up to the 150,000 square foot canopy limit over time.
  • Received home delivery license for medical patients in New Jersey .
  • Partnered with Cookies to open third Cookies-branded dispensary in Michigan , located in Ann Arbor .
  • Announced agreement to acquire KISA Enterprises MI, LLC and KISA Holdings, LLC ("Pinnacle"), a dispensary operator in Michigan with 5 operational locations.
  • Operationalized extraction lab and packaging facility in Michigan .
  • Introduced Khalifa Kush , a premium cannabis brand founded by Grammy Award-nominated recording artist Wiz Khalifa , at Gage Cannabis dispensaries in Michigan .
  • Announced agreement to acquire Allegany Medical Marijuana Dispensary ("AMMD") located in Cumberland, Maryland , which will enable the Company to become vertically integrated in the state.
  • Appointed Lynn Gefen as Chief Legal Officer and Corporate Secretary.

Subsequent Events

  • Opened third New Jersey Apothecarium Dispensary in Lodi .
  • Opened first "Cookies Corner" at The Apothecarium location in Maplewood, New Jersey .
  • Exclusively launched Chris Webber's "Players Only" premium cannabis brand in Gage and Cookies dispensaries in Michigan .

Second Quarter 2022 Financial Results
Net sales for the second quarter of 2022 totaled $64.8 million , an increase of 30.5% sequentially and 10.4% year over year, mainly related to a partial quarter of adult use sales in New Jersey along with a full quarter of contribution related to the acquisition of Gage, partially offset by the Company's decision to discontinue non-branded wholesale sales in Michigan.

Gross margin for the second quarter of 2022 was 35.5%. Adjusted gross margin was 47.1% as compared to 38.4% in the previous quarter, an improvement of 870 basis points quarter over quarter. The sequential margin expansion was driven by strong improvements across all of the Company's core businesses.  Adjusted gross margin excludes the one-time impact of reserves and write-downs related to aged inventory in Pennsylvania , dating back to the revamp of its cultivation facility in the second half of 2021.

General & Administrative expenses (G&A), excluding stock-based compensation, increased $10 million versus the first quarter of 2022 to $29.5 million , mainly driven by the full quarter addition of the Gage acquisition. Excluding Michigan , G&A expenses were up $1.1 million quarter over quarter related to additional staffing and other pre-opening expenses in preparation for the start of adult use sales in New Jersey . As a percentage of revenue, G&A increased to 45.5% in the second quarter from 38.7% in the previous quarter. The increase as a percentage of revenue was impacted by the addition of Gage for a full quarter as well as staffing for all three stores in New Jersey despite the delayed opening of the Lodi store, which opened subsequent to the quarter.

Adjusted EBITDA for the quarter was $5.8 million versus $3.3 million in the first quarter of 2022. Adjusted EBITDA margin improved from 6.6% in the first quarter to 8.9% in the second quarter. The improvement was driven by higher sales and improved gross margin, offset by higher G&A expenses with the addition of Gage for a full quarter and costs associated with the launch of adult-use in New Jersey .

GAAP Net income for the quarter was $14.2 million , compared to a Net loss of $16.0 million in first quarter of 2022.

Balance Sheet and Cash Flow
Cash and cash equivalents were $49 million as of June 30, 2022 , compared to $88 million as of March 31, 2022 . The Company has ample liquidity and access to capital, mainly through its capacity for additional borrowing related to its unencumbered owned assets and minimal usage of sale leasebacks. The Company also has the ability to raise equity should the capital markets improve.

Cash used from operations was $16.1 million for the three months ended June 30, 2022 , mainly driven by tax payments of $9.2 million and interest payments of $6.4 million . Current income taxes payable at the end of the period was $13 million .

Capital expenditures, including deposits, were $12.3 million in the quarter, primarily related to the on-going expansion work at the Company's Maryland and Michigan cultivation and processing facilities. The Company also made final note payments of $5 million related to its previous acquisitions of HMS in Maryland and KCR in Pennsylvania.

As of August 11, 2022 , there were 318 million basic shares outstanding including 253 million common shares, 13 million preferred shares as converted, and 52 million exchangeable shares.

Conference Call
TerrAscend will host a conference call today, August 11, 2022 , to discuss these results. Jason Wild , Executive Chairman, Ziad Ghanem , President and Chief Operating Officer, and Keith Stauffer , Chief Financial Officer, will host the call starting at 5:00 p.m. Eastern time . A question-and-answer session will follow management's presentation.

CONFERENCE CALL DETAILS



DATE:

Thursday, August 11, 2022

TIME:

5:00 p.m. Eastern Time

WEBCAST:

Click Here

DIAL-IN NUMBER:

1-888-664-6392

CONFERENCE ID:

81354387

REPLAY:

416-764-8677 or 1-888-390-0541
Available until 12:00 midnight Eastern Time Thursday, August 26, 2022

Replay Code: 354387#


Financial results and analyses are available on the Company's website ( www.terrascend.com ) and SEDAR ( www.sedar.com ).

The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Definition and Reconciliation of Non-GAAP Measures
In addition to reporting the financial results in accordance with GAAP, the Company reports certain financial results that differ from what is reported under GAAP. Non-GAAP measures used by management do not have any standardized meaning prescribed by GAAP and may not be comparable to similar measures presented by other companies. The Company believes that certain investors and analysts use these measures to measure a company's ability to meet other payment obligations or as a common measurement to value companies in the cannabis industry, and the Company calculates Adjusted Gross Profit as Gross Profit adjusted for certain material non-cash items and Adjusted EBITDA as EBITDA adjusted for certain material non-cash items and certain other adjustments management believes are not reflective of the ongoing operations and performance. Such information is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The Company believes this definition is a useful measure to assess the performance of the Company as it provides more meaningful operating results by excluding the effects of expenses that are not reflective of the Company's underlying business performance and other one-time or non-recurring expenses.

The table below reconciles Gross Profit and Adjusted Gross Profit for the quarters ended June 30, 2022 , March 31, 2022 , and June 30, 2021


For the Three Months Ended


(in millions of U.S. Dollars)


June 30, 2021



March 31, 2022



June 30, 2022


Gross profit



34,835




15,140




22,993


Add (deduct) the impact of:










Vape recall






1,894




1,071


Accelerated depreciation






238





Non-cash write downs of inventory



449







5,894


Relief of fair value of inventory upon acquisition



567




1,806




549


Adjusted gross profit



35,851




19,078




30,507



The table below reconciles net loss to EBITDA and Adjusted EBITDA for the quarters ended June 30, 2022 , March 31, 2022 , and June 30, 2021


For the Three Months Ended




June 30, 2021



March 31, 2022



June 30, 2022












Net income (loss)


$

(29,662)



$

(16,006)



$

14,162


Add (deduct) the impact of:










Provision for income taxes



6,937




3,743




4,688


Finance expenses



6,424




6,699




9,427


Amortization and depreciation



3,529




5,084




7,046


EBITDA



(12,772)




(480)




35,323


Add (deduct) the impact of:










Relief of fair value of inventory upon acquisition



567




1,806




549


Non-cash write downs of inventory



449




-




5,894


Vape recall



-




1,894




1,071


Share-based compensation



4,648




3,356




4,463


Impairment of goodwill and intangible assets



8,640








Loss on disposal of fixed assets



36







929


Revaluation of contingent consideration



(7)




119




34


Restructuring and executive severance



467








Legal settlements



740








Other one-time items



860




1,974




924


(Gain) loss on fair value of warrants and purchase option derivative asset



19,891




(5,713)




(47,345)


Indemnification asset release



2,599




(25)




3,998


Unrealized and realized loss (gain) on investments



(5,964)







234


Unrealized and realized foreign exchange loss



3,055




356




(306)


Adjusted EBITDA


$

23,209



$

3,287



$

5,768


About TerrAscend
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 .

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, and include statements with respect to future revenue and profits. 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 .

The statements in this press release are made as of the date of this release. The Company 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.

Unaudited Interim Condensed Consolidated Balance Sheets
(Amounts expressed in thousands of United States dollars, except for per share amounts)



At



At




June 30, 2022



December 31, 2021


Assets







Current Assets







Cash and cash equivalents


$

48,426



$

79,642


Restricted cash



605





Accounts receivable, net



22,189




14,920


Investments



4,072





Inventory



54,371




42,323


Prepaid Expenses and other current assets



7,655




6,336





137,318




143,221


Non-Current Assets







Property and equipment, net



238,797




140,762


Deposits



4,698





Operating lease right of use assets



30,570




29,561


Intangible assets, net



351,638




168,984


Goodwill



240,598




90,326


Indemnification asset



-




3,969


Other non-current assets



4,998




5,111





871,299




438,713


Total Assets


$

1,008,617



$

581,934









Liabilities and Shareholders' Equity







Current Liabilities







Accounts payable and accrued liabilities


$

57,535



$

30,340


Deferred revenue



2,404




1,071


Loans payable, current



58,856




8,837


Contingent consideration payable, current



3,028




9,982


Operating lease liability, current



1,394




1,171


Lease obligations under finance leases, current



384




22


Corporate income tax payable



13,189




9,621


Other current liabilities



3,613




-





140,403




61,044


Non-Current Liabilities







Loans payable, non-current



180,781




176,306


Contingent consideration payable, non-current



2,620




2,553


Operating lease liability, non-current



31,680




30,573


Lease obligations under finance leases, non-current



4,794




181


Warrant liability



6,176




54,986


Deferred income tax liability



73,087




14,269


Financing obligations



11,606





Other long term liabilities



12,502




13,068





323,246




291,936


Total Liabilities



463,649




352,980


Commitments and Contingencies







Shareholders' Equity







Share Capital







Series A, convertible preferred stock, no par value, unlimited shares authorized; 12,658 and 13,708 shares outstanding as of June 30, 2022 and December 31, 2021 respectively







Series B, convertible preferred stock, no par value, unlimited shares authorized; 610 and 610 shares outstanding as of June 30, 2022 and December 31, 2021 respectively







Series C, convertible preferred stock, no par value, unlimited shares authorized; nil and 36 shares outstanding as of June 30, 2022 and December 31, 2021 respectively







Series D, convertible preferred stock, no par value, unlimited shares authorized; nil and nil shares outstanding as of June 30, 2022 and December 31, 2021 respectively







Proportionate voting shares, no par value, unlimited shares authorized; nil and nil shares outstanding as of June 30, 2022 and December 31, 2021 respectively







Exchangeable shares, no par value, unlimited shares authorized; 52,395,071 and 38,890,571 shares outstanding as of June 30, 2022 and December 31, 2021 respectively







Common stock, no par value, unlimited shares authorized; 252,707,325 and 190,930,800 shares outstanding as of June 30, 2022 and December 31, 2021 respectively







Additional paid in capital



854,948




535,418


Accumulated other comprehensive income (loss)



(1,063)




2,823


Accumulated deficit



(315,132)




(314,654)


Non-controlling interest



6,215




5,367


Total Shareholders' Equity



544,968




228,954


Total Liabilities and Shareholders' Equity


$

1,008,617



$

581,934



Unaudited Interim Condensed Consolidated Statements of Operations and Comprehensive Loss
(Amounts expressed in thousands of United States dollars, except for per share amounts)



For the Three Months Ended



For the Six Months Ended




June 30, 2022



June 30, 2021




June 30, 2022



June 30, 2021


Revenue


$

65,367



$

61,977




$

115,812



$

118,473


Excise and cultivation tax



(563)




(3,254)





(1,349)




(6,396)


Revenue, net



64,804




58,723





114,463




112,077
















Cost of Sales



41,811




23,888





76,330




42,300
















Gross profit



22,993




34,835





38,133




69,777
















Operating expenses:














General and administrative



33,981




20,750





56,533




41,142


Amortization and depreciation



3,016




1,844





5,634




3,717


Total operating expenses



36,997




22,594





62,167




44,859
















(Loss) income from operations



(14,004)




12,241





(24,034)




24,918


Other expense (income)














Revaluation of contingent consideration



34




(7)





153




2,990


(Gain) loss on fair value of warrants and purchase option derivative asset



(47,345)




19,891





(53,058)




25,301


Finance and other expenses



13,902




8,919





20,758




15,309


Transaction and restructuring costs



627




432





1,242




432


Impairment of goodwill






5,007








5,007


Impairment of intangible assets






3,633








3,633


Unrealized and realized foreign exchange loss



(306)




3,055





50




5,838


Unrealized and realized loss (gain) on investments



234




(5,964)





234




(6,192)


Income (loss) before provision from income taxes



18,850




(22,725)





6,587




(27,400)


Provision for income taxes



4,688




6,937





8,431




16,373


Net income (loss)


$

14,162



$

(29,662)




$

(1,844)



$

(43,773)
















Foreign currency translation



280




(3,025)





3,887




(5,214)


Comprehensive income (loss)


$

13,882



$

(26,637)




$

(5,731)



$

(38,559)
















Net income (loss) attributable to:














Common and proportionate Shareholders of the Company


$

13,217



$

(30,660)




$

(3,140)



$

(44,834)


Non-controlling interests



945




998





1,296




1,061
















Comprehensive income (loss) attributable to:














Common and proportionate Shareholders of the Company


$

12,937



$

(27,635)




$

(7,027)



$

(39,620)


Non-controlling interests



945




998





1,296




1,061
















Net income (loss) per share, basic and diluted














Net income (loss) per share - basic


$

0.05



$

(0.17)




$

(0.01)



$

(0.25)


Weighted average number of outstanding common and proportionate voting shares



252,305,425




182,369,839





231,829,926




176,901,119


Net income (loss) per share - diluted


$

0.05



$

(0.17)




$

(0.01)



$

(0.25)


Weighted average number of outstanding common and proportionate voting shares, assuming dilution



257,883,711




182,369,839





231,829,926




176,901,119



Unaudited Interim Condensed Consolidated Statements of Cash Flows
(Amounts expressed in thousands of United States dollars, except for per share amounts)


For the Six Months Ended




June 30, 2022



June 30, 2021


Operating activities







Net loss

$


(1,844)


$


(43,773)


Adjustments to reconcile net income to net cash provided by (used in) operating activities







Non-cash write downs of inventory



8,495




699


Accretion expense



1,936




(544)


Depreciation of property and equipment and amortization of intangible assets



12,131




7,050


Amortization of operating right-of-use assets



1,074




2,269


Share-based compensation



7,819




8,215


Deferred income tax (recovery) expense



(787)




285


(Gain) loss on fair value of warrants and purchase option derivative



(53,058)




25,301


Revaluation of contingent consideration



153




2,990


Impairment of intangible assets






3,633


Impairment of goodwill






5,007


Loss on disposal of fixed assets



929





Release of indemnification asset



3,973




3,796


Forgiveness of loan principal and interest






(766)


Unrealized and realized foreign exchange loss



50




5,838


Unrealized and realized loss (gain) on investments



234




(6,192)


Changes in operating assets and liabilities







Receivables



475




(950)


Inventory



208




(9,879)


Prepaid expense and deposits



1,474




(507)


Deposits



206





Other assets



461




389


Accounts payable and accrued liabilities and other payables



(8,299)




639


Operating lease liability



(614)




(1,889)


Other liability



(10,353)





Contingent consideration payable



(410)




(11,394)


Corporate income tax payable



5




(293)


Deferred revenue



766





Net cash used in operating activities



(34,976)




(10,076)


Investing activities







Investment in property and equipment



(12,500)




(10,856)


Investment in intangible assets



(1,330)




(40)


Principal payments received on lease receivable



392




359


Distributions of earnings from associates






469


Deposits for property and equipment



(10,036)




(10,583)


Deposits for business acquisition



(852)





Payments made for land contracts



(429)





Cash received on acquisition



24,716





Cash portion of consideration paid in acquisitions, net of cash acquired






(42,736)


Net cash used in investing activities



(39)




(63,387)


Financing activities







Proceeds from options and warrants exercised



24,158




12,921


Loan principal paid



(5,203)





Loan amendment fee paid



(1,200)





Proceeds from loans payable






766


Cash distributions to NJ partners



(1,436)





Capital contributions received (paid) from (to) non-controlling interests



(448)




(383)


Payments of contingent consideration



(6,630)




(18,274)


Payments made for financing obligations



(460)





Proceeds from private placement, net of share issuance costs






173,477


Net cash provided by financing activities



8,781




168,507


Net (decrease) increase in cash and cash equivalents and restricted cash during the period



(26,234)




95,044


Net effects of foreign exchange



(4,377)




(89)


Cash and cash equivalents and restricted cash, beginning of period



79,642




59,226


Cash and cash equivalents and restricted cash, end of period

$


49,031


$


154,181









Supplemental disclosure with respect to cash flows







Income taxes paid

$


9,213


$


16,381


Interest paid

$


14,641


$


13,290


Lease termination fee paid

$


3,300




-


Non-cash transactions







Equity and warrant liability issued as consideration for acquisition

$


294,800


$


34,427


Promissory note issued as consideration for acquisitions

$


-


$


6,750


Shares issued for liability settlement

$


22


$


57


Accrued capital purchases

$


9,776


$


336


SOURCE TerrAscend

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Canopy Growth Announces Divestiture of Canadian Retail Operations

Decision supports the Company's strategic objectives including streamlining Canadian operations, achieving profitability, and advancing a premium brand-driven portfolio for consumers

Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC) announced today that the Company has entered into agreements to divest its retail business across Canada which includes the stores operating under the Tweed and Tokyo Smoke retail banners. The announcement reinforces the Company's focus on advancing its path to profitability as a premium brand-focused cannabis and consumer packaged goods (CPG) company.

News Provided by Canada Newswire via QuoteMedia

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TerrAscend and TRP Announce Partnership To Bring Global Cannabis Brand Cookies Into Pennsylvania Market

TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a North American cannabis operator, today announced that it has entered into an agreement with TRP - the cannabis holding and operating company with the exclusive rights to introduce the nation's most coveted Cookies products to Pennsylvania . Strains from Cookies premium genetics will be made available at TerrAscend dispensaries across the Commonwealth and Cookies stores owned and operated by TRP to open in the coming months. Under the terms of the multi-year agreement, TerrAscend will cultivate and manufacture Cookies products in the Keystone State.

In the coming weeks, TerrAscend will launch Cookies products at each of the Company's 'Apothecarium' and 'Keystone Canna Remedies' dispensary retail chains across Pennsylvania .

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Trulieve Launches Khalifa Kush Cannabis in Florida Through Exclusive Partnership with Wiz Khalifa

GRAMMY® and Golden Globe® Award-nominated artist Wiz Khalifa to meet patients in three Trulieve dispensaries October 1

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced the official launch of Khalifa Kush premium medical cannabis products in select Florida retail locations this Saturday, October 1 . This is an exclusive partnership with multi-platinum selling, GRAMMY® and Golden Globe® Award-nominated recording artist Wiz Khalifa in Florida . Patients can visit any Trulieve location in Florida on October 1 for a chance to receive Khalifa Kush swag and prizes.

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Trulieve Opens New Medical Cannabis Dispensary in Milton, West Virginia

Grand opening celebration event on Sept. 24

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced the grand opening of its newest West Virginia dispensary in Milton at 5 Perry Morris Square. The Milton dispensary will open its doors on Sept. 24 at 10 a.m. EDT for patients, with ongoing hours of 10 a.m. to 8 p.m. from Monday through Saturday, and 10 a.m. to 6 p.m. on Sunday .

News Provided by Canada Newswire via QuoteMedia

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Trulieve Opens New Medical Cannabis Dispensary in Belle, West Virginia

Grand opening celebration event on Sept. 24

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced the grand opening of its newest West Virginia dispensary in Belle at 2700 Dupont Ave Suite 9. The Belle dispensary will open its doors on Sept. 24 at 10 a.m. EDT for patients, with ongoing hours of 10 a.m. to 8 p.m. from Monday through Saturday, and 10 a.m. to 6 p.m. on Sunday .

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