US$14M run rate medical dispensary poised to significantly increase sales with the launch of Maryland’s Adult-Use program on July 1^st, and expected to be immediately accretive on an EBITDA and cashflow basis

Located in close proximity to Delaware, with no competitors within a 25-mile radius, this dispensary is expected to quickly become one of TerrAscend’s highest performing retail locations nationwide

TORONTO, June 28, 2023 (GLOBE NEWSWIRE) — TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the closing of its previously announced acquisition of Derby 1, LLC (d/b/a “Peninsula Alternative Health”), a medical dispensary in Maryland. This transaction adds a second dispensary to the Company’s Maryland footprint in advance of adult-use sales, which will begin on July 1, 2023. The transaction is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis. TerrAscend recently announced entering into a definitive agreement to acquire Hempaid, LLC (d/b/a “Blue Ridge Wellness”), its third medical dispensary in Maryland once closed.

Peninsula Alternative Health is one of the highest performing medical dispensaries in Maryland with a net revenue run rate of approximately US$14 million. Strategically located near the Delaware border in Salisbury, Maryland, this 8,500 square foot dispensary has no direct competitor within a 25-mile radius. TerrAscend expects to achieve significant sales and margin improvement at this location with the launch of adult-use and by offering a complete selection of its high-quality brands including Kind Tree, Gage, Cookies and Wana. With the close of the Transaction, TerrAscend’s retail footprint increases to 35 dispensaries nationwide.

“Adding a second high-performing medical dispensary in Maryland, and soon to be third, is an important step in our strategy to become a market leader in the state,” said Jason Wild, Executive Chairman of TerrAscend. “We expect Peninsula to quickly become one of our highest performing dispensaries nationwide. With less than a week until the launch of adult-use in Maryland, we are focused on signing additional acquisitions and reaching the four-dispensary cap as our northeast business unit will soon be operating in Maryland under the same successful business model we built in New Jersey.”

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.

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. TerrAscend Growth operates The Apothecarium and Gage dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. TerrAscend Growth’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, 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, 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, the success of the launch of adult use sales in Maryland and in the Peninsula transaction specifically, 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. 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.

For more information regarding TerrAscend:
Keith Stauffer
Chief Financial Officer
717-343-5386
IR@terrascend.com

Briana Chester
MATTIO Communications
424-465-4419
terrascend@mattio.com

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

State-of-the-Art Hemp Cigarette Manufacturer Headquartered near Winston-Salem, North Carolina

AUSTIN, May 01, 2023 (GLOBE NEWSWIRE) — Indoor Harvest Corp. (OTCPK: INQD) (the “Company”) a company focused on sustainable-hemp and wellness related products, is pleased to announce the completion of the acquisition of Opportunity Development Group, LLC, and its subsidiary 369Hemp, Inc. (collectively referred to as “369Hemp®”), for a combination of cash and common stock.

Born from a passion for craftsmanship and quality, 369Hemp®’s mission is to pioneer the creation, production, and distribution of hemp cigarettes. Utilizing time-tested techniques from master hemp growers and cigarette manufacturers, 369Hemp® creates products of the highest caliber from a 30,000 sq ft facility in North Carolina. 369Hemp® current brands include 369Hemp and white-labeled hemp cigarettes. The distribution model consists of online direct to consumer, in-store retail, and wholesale markets. Hemp Industry Daily estimates the smokeable hemp market to reach $300-400M by 2025.

“I was fortunate enough to meet Travis Priddy through mutual relationships several years ago. We immediately connected on common strategies and opportunities. I am thrilled to now bring the innovation of these new brands to the smokeable hemp industry. By adding an established hemp cigarette manufacturing platform to Indoor Harvest’s business, we are confident we will immediately reap the rewards from 369Hemp®’s team and technology to market, manufacture, and distribute hemp cigarettes globally,” said Leslie Bocskor, CEO and Chairman of INQD. “We believe there is vast opportunity in this space and by capturing just a small percentage of the North American market we will be a strong contender in smokeable hemp. Travis is truly a shining star, and we are lucky to have him and his team as a part of Indoor Harvest.”

“I have been dreaming of working with Leslie since we met in 2018,” said Travis Priddy, CEO and founder of 369Hemp®. “We have created an authentic, true quality alternative cigarette to what most smokers are currently accustomed to with manufacturing efficiency at speeds to scale. We designed a system to run premium biomass and use the best grade material which is hemp flower that is USDA compliant farm regulated hemp, registered, and certified by the state of North Carolina. Indoor Harvest will help us lay the foundation to create the Gold Standard to deliver on the promise of a truly healthy alterative for smokers.”

Priddy is a seasoned cigarette industry sales executive and entrepreneur, with more than 20 years’ experience. He has previously worked for Altria and Philip Morris International in both domestic and international markets. Priddy’s prior roles focused on national sales and merchandising, new business development, and new product launch strategies in a variety of countries. Priddy received a Bachelor of Arts from the University of North Carolina at Chapel Hill. As part of the acquisition, Priddy will be retained under a new employment agreement as President of 369Hemp®.

About 369Hemp®
369Hemp® was founded on the ideals of quality, consistency, and sophistication elevating the hemp industry while paying homage to the “Art of the Smoke”. We are pioneering the creation, production and distribution of hemp cigarettes made from the finest American hemp. We are building the highest capacity and most technologically sophisticated hemp cigarette manufacturing facility in the United States.

About Indoor Harvest:
Indoor Harvest Corp. (OTCPK: INQD) is a company of sustainable-hemp and wellness related products which incorporates the development of proprietary technology, mergers, acquisitions, strategic partnerships, and joint ventures as part of a broad integration strategy. INQD cultivates partnerships within related industries, providing an opportunity to be part of a more significant play, sharing intellectual capital, technology, access to new capital markets, and liquidity for owners.

Forward Looking Statements:
This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect our views about future events and financial performance and are generally not historical facts. Words such as “expect,” “feel,” “believe,” “will,” “may,” “should,” “anticipate,” “intend,” “estimate,” “project,” “forecast,” “plan” and similar expressions are intended to identify forward-looking statements. These statements include but are not limited to financial projections and estimates and their underlying assumptions; statements regarding plans, objectives, and expectations with respect to future operations, products, and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. You are cautioned not to place undue reliance on these forward- looking statements that speak only as of the date hereof. You are also urged to carefully review and consider the various risks and other disclosures discussed in our reports filed with the U.S. Securities and Exchange Commission from time to time, which attempt to advise interested parties of the factors that affect our business. Except to the extent otherwise required by federal securities laws, we do not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof. Risks include but are not limited to general risks associated with mergers, acquisitions, joint ventures, and strategic alliances; lack of sufficient capital, changes in U.S. hemp and related laws; possible impairment of assets, COVID and more.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.