TerrAscend Appoints Lynn Gefen to Additional Role of Chief People Officer

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TORONTO, Nov. 26, 2024 (GLOBE NEWSWIRE) – TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND, OTCQX: TSNDF), a leading North American cannabis company, today announced the appointment of Lynn Gefen as Chief People Officer in addition to her role as Chief Legal Officer and Corporate Secretary, effective November 12, 2024 .

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“Lynn has proven to be an exceptional member of our leadership team since joining TerrAscend in May of 2022. He brought not only technical expertise, but a love of culture. With a natural fit between Human Resources and the Legal profession, Lynn is uniquely positioned to take on this expanded role,” said Ziad Ghanem, President and Chief Executive Officer of TerrAscend. “Combining these roles is in line with our focus on streamlining our operations and improving our resources to drive efficiency without sacrificing agility,” continued Mr. Ghanem.

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“Joining TerrAscend has been an extraordinary opportunity, and I am honored to take on these additional responsibilities,” said Lynn Gefen, Chief People and Legal Officer, and Corporate Secretary. “Our people are essential to driving our growth strategy forward to 2025 and I look forward to working together to drive these plans with our talented team,” continued Ms. Gefen.

Prior to her roles at TerrAscend, Ms. Gefen served as Deputy General Counsel, Chief Risk and Compliance Officer, and Assistant Secretary at HomeServe, a publicly traded, independent provider of home improvement service solutions. In addition to her roles at HomeServe, Ms. Gefen has worked for Diageo North America, a global leader in alcohol, focusing on regulatory, privacy, and compliance issues, and for Citrix Systems, an international cloud computing and virtualization technology company, there. led a team with global responsibility for corporate and compliance matters including securities, commercial transactions, litigation, governance, and employment. Ms. Gefen began her legal career as a partner at Thacher Proffitt & Wood and Holland & Knight. Ms. Gefen received a JD from American University and a Bachelor of Arts from the University of Florida.

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The Toronto Stock Exchange (“TSX”) has neither approved nor disapproved the contents of this news release. Neither the TSX nor any securities regulator accepts responsibility for the adequacy or accuracy of this release.

About TerrAscend
TerrAscend is a leading TSX-listed cannabis company with interests in the entire North American cannabis sector, including directly 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 Apothecarium, Gage and other dispensary retail locations as well as limited cultivation, processing, and manufacturing facilities in its core markets. TerrAscend’s cultivation and production methods produce consistent, high-quality marijuana, providing an industry-leading product selection for both the adult-use medical and legal markets. The Company owns or licenses several synergistic businesses and brands including Gage Cannabis, Apothecarium, Cookies, Lemonnade, Ilera Healthcare, Kind Tree, Legend, State Flower, Wana, and -Valhalla Confections. For more information visit www.terrascend.com.

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Warning About Marijuana Operation in the United States
Investors should be aware that there are significant legal and regulatory restrictions governing 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 marijuana in the United States. Financial transactions involving profits generated by, or intended to promote, marijuana-related business activities in the United States may be grounds for prosecution under applicable US federal money laundering laws.

While the way such laws are enforced by the federal government in the United States tends not to enforce the law against certain individuals and businesses that comply with medical or adult marijuana programs in states where those programs are legal, strict compliance with state laws respecting cannabis will not absolve TerrAscend of liability under US federal law. , and will not provide a defense to any federal proceeding that may be brought against TerrAscend. Federal enforcement in the United States is a significant risk to TerrAscend’s business and any actions brought against TerrAscend thereunder could adversely affect TerrAscend’s business and financial performance.

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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 can be identified by the use of words such as, “may”, “may”, “may”, “will”, “likely”, “expect”, “believe”, “believe”, “intend”, “plan” , “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and include statements about the Company’s expectations regarding the improvement of its operations or the implementation of its growth plans. Forward-looking information is not a guarantee of future performance and is based on a number of estimates and management’s assumptions taking into account management’s knowledge and perception of trends, current conditions and expected developments, and other factors relevant to the circumstances, including assumptions regarding current and future market conditions, current and future regulatory environment, and and availability of licenses, authorizations and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, it should not place undue reliance on forward-looking information because the Company cannot give any assurance that it will prove to be correct. Actual results and developments may differ materially from those projected 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 expressed 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, local, local and foreign government laws, rules and regulations, including federal and state laws in the United States related to the operation of marijuana in the United States; and risk factors set forth in the Company’s most recent MD&A, filed with Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca and in the section entitled “Risk Factors” in the Company’s Annual Report for the year ended December 31, 2023 filed with the Securities and Exchange Commission (“SEC”) on March 14, 2024, as revised by its Quarterly Report on Form 10. -Q for the quarter ended September 30, 2024 will be filed with the SEC.

Statements in this press release are made as of the date of this release. The Company disclaims any intention or obligation to update any forward-looking information, whether as a result of new information, future events, or results or otherwise, except as required by applicable securities laws.

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