New Jersey Set To Get its First Taste of Exclusive Cookies Vape Cartridges and Pre-Rolls In Celebration of Opening Day

TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, and Cookies, a globally recognized cannabis and clothing brand, announced that The Apothecarium Lodi (200 NJ-17, Lodi, NJ 07644) will host a ribbon-cutting event and meet-and-greet appearance today with rapper and cannabis entrepreneur Berner, Co-Founder and CEO of Cookies, to celebrate the launch of Cookies Corners in New Jersey. The Company will offer in-store promotions and SWAG giveaways for the first 150 customers as well as outdoor activities from 9am to 2pm.

Cookies Corners is a modern retail experience enabling customers to fully immerse themselves with the unique Cookies brand. Features available at the Cookies Corners include bud bars, branded wall displays, accessories, apparel and a top-flight selection of flower.

TerrAscend will also launch Cookies vape cartridges and pre-rolls in proprietary cultivars available for the first time in New Jersey, including Pink Rozay, Apples & Bananas, Gary Payton, Lemon Pound Cake 75, Cereal Milk, The Soap, Laughing Gas, Jealousy and Day Day.

The dedicated retail section at Apothecarium Lodi will be the Garden State's second Cookies Corner location, joining The Apothecarium Maplewood. A third Cookies Corner location is coming soon to The Apothecarium Phillipsburg.

"We keep checking off life goals, to have our second Cookies Corner in Jersey next to the legendary Bada Bing is epic. The customer journey is special at this location, we are ready for the East Coast," said Berner, Co-Founder and CEO of Cookies.

"Cookies is a standout cannabis brand with tremendous cultural influence," said Jason Wild, Executive Chairman of TerrAscend. "With what we believe to be the highest quality flower in the state, our exclusive relationship with Cookies, and the broadest selection of concentrates, The Apothecarium is quickly establishing a reputation as the destination that caters to the most sophisticated cannabis consumers in New Jersey."

Cookies, one of the most globally recognized cannabis lifestyle brands, is renowned for its game-changing genetics and a diverse selection of over 70 cannabis cultivars and 2,000 products. Starting in 2010 from a garage set-up, the trailblazing cannabis brand was co-founded by San Francisco-native Berner – the first cannabis industry executive to be featured on the cover of Forbes – alongside his acclaimed cultivation partner, Jai. Creators of some of the industry's most highly-sought and legendary cultivars, Cookies is loyal to its mission of authenticity and innovative genetics.

For more information about product availability and store hours, please visit The Apothecarium website.

To find up-to-date information on local Cookies products, follow @CookiesNewJersey and @Apothecariumnj on Instagram.

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 50 retail locations in 17 markets across 5 countries. Cookies was named one of America's Hottest Brands of 2021 by AdAge; the first cannabis brand to ever receive this accolade. To learn more about Cookies, visit cookies.co, and to learn more about Cookies CBD, visit shop.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.

Forward-looking statements in this news release include, but are not limited to: statements with respect to the New Jersey market generally and future consumer access to TerrAscend brands in New Jersey. 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. While TerrAscend considers these assumptions to be reasonable, based on information currently available, they 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 set out in 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.

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.