JW Asset Management Acquires Additional Shares of TerrAscend

NEW YORK, March 23, 2022 /CNW/ - JW Asset Management, LLC ("JW") as adviser to several funds, has acquired control and direction over an additional 240,000 common shares of TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) ("TerrAscend") at an average price of Cdn $7.04 per share (the "Acquisition"). These shares were purchased for investment purposes.

As a result of the Acquisition, JW and its joint actors, now own or exercise control or direction over (a) 90,151,655 common shares of TerrAscend (b) 7,129,517 warrants to acquire common shares of TerrAscend (c) 8,591 warrants to acquire proportionate voting shares (d) 10,000 convertible preferred shares (e) 10,000 warrants to acquire convertible preferred shares (f) 1,200,000 options to acquire common shares and (g) 47,847 restricted stock units.

As a result of the Acquisition, JW and its joint actors now own or exercise control or direction over securities carrying 44.02% of the total voting power attached to all TerrAscend securities on a partially diluted basis (assuming conversion of only the TerrAscend convertible securities owned or over which JW or its joint actors exercise control or direction and no others).

Prior to TerrAscend's acquisition of Gage Growth Corp. ("Gage") on March 10, 2022, for TerrAscend common shares, JW and its joint actors owned or exercised control or direction over securities carrying 47.46% of the total voting power attached to all TerrAscend securities on a partially diluted basis (assuming conversion of only the TerrAscend convertible securities owned or over which JW or its joint actors exercise control or direction and no others). As a result of the acquisition of Gage, JW and its joint actors received 10,467,229 common shares of TerrAscend and 7,129,517 warrants to acquire common shares of TerrAscend.

This press release is being issued pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning report for the above-named companies, which will be filed on www.sedar.com, please contact: Jason Klarreich, Chief Financial Officer at [email protected].

SOURCE JW Asset Management, LLC

Jason Klarreich, Chief Financial Officer at [email protected]