TerrAscend exits Michigan market; will sell 4 cultivation facilities, 20 dispensaries

TerrAscend Corp.

Net proceeds from asset sales to be used to pay down Company debt.
Workforce reduction of ~21% (approx. 250 employees) expected by end of Q3 2025.
Michigan operations will be reported as discontinued operations starting Q2 2025.
Post-exit, TerrAscend will operate 19 dispensaries and 4 facilities across 5 states and Toronto.
Company anticipates improved consolidated gross margin, adjusted EBITDA, and cash flow conversion.

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