Mr. Jason Wild reports

TERRASCEND RAISES FULL YEAR 2023 GUIDANCE

Terrascend Corp. has raised its guidance for net revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) from continuing operations for full year 2023 to at least $317-million and $63-million, respectively, representing year-over-year growth of 28 per cent in net revenue and 62 per cent in adjusted EBITDA from continuing operations. Previous guidance was at least $305-million and $58-million, respectively. The company also expects gross margin to exceed 50 per cent and free cash flow from continuing operations to be positive for the second half of the year.

"We have good visibility and confidence in the remainder of the year, as evidenced by the increase in our full-year guidance," stated Jason Wild, executive chairman of Terrascend. "We expect to drive industry-leading revenue growth, continued improvement across all P&L [profit/loss] metrics, and positive free cash flow in the second half of the year."

Investor day details

Terrascend will host an investor day at the Toronto Stock Exchange in Toronto, Ont., on Friday, Oct. 13, 2023, from 9:30 a.m. ET to approximately 12 p.m. ET. The event will include presentations and panel discussions by Jason Wild, executive chairman, Ziad Ghanem, chief executive officer, Keith Stauffer, chief financial officer, Lynn Gefen, chief legal officer, Chantelle Elsner, president northeast, Mary Turon, president midwest, and B.J. Carretta, senior vice-president of marketing, who will provide updates on the company's business and discuss its strategy to deliver long-term growth in revenue, profitability and cash flow. The event will be moderated by Tim Seymour from CNBC, and Nancy Whiteman, chief executive officer of Wana Brands, will participate in one of the panel discussions focused on building strong partnerships.

A live webcast and an archived replay will be available on the investor relations section of the company's website. Please allow extra time prior to the start of the event to download any necessary software that may be needed to view the webcast.

Webcast details

Date:  Friday, Oct. 13, 2023

Start time:  9:30 a.m. ET

Live webcast/replay:  visit the company's website

About Terrascend Corp.

Terrascend is a leading 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 Brands and Valhalla Confections.

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