TORONTO, Aug.  24, 2026  (GLOBE NEWSWIRE) -- TerrAscend Corp. (&#34;TerrAscend&#34; or the &#34;Company&#34;) (TSX:TSND) (OTCQX:TSNDF), a leading North American cannabis operator, today announced the results of its

TSX:TSND

TerrAscend Announces Results of Special Meeting of Shareholders

TerrAscend advances toward NASDAQ/NYSE listing with share consolidation approval

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>TORONTO, Aug.  24, 2026  (GLOBE NEWSWIRE) -- TerrAscend Corp. (&amp;#34;TerrAscend&amp;#34; or the &amp;#34;Company&amp;#34;) (TSX:TSND) (OTCQX:TSNDF), a leading North American cannabis operator, today announced the results of its</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>TerrAscend announced shareholder approval of a share consolidation on Aug 24, 2026, a key step toward a U.S. exchange listing. The vote was 143,095,552 For (99.25%) and 141,435 Withheld (0.10%). While this signals a potential liquidity and access to capital shift, U.S. federal cannabis regulations remain a prominent risk to execution and earnings.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>TerrAscend approved a share consolidation at the Aug 24, 2026 Special Meeting.</li><li>For: 143,095,552; Withheld: 141,435 (0.10%).</li><li>Company aims to list on a major U.S. exchange (NASDAQ/NYSE).</li><li>U.S. federal cannabis risk remains despite regulatory changes.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>TerrAscend Corp. (TSND)</strong>: Share consolidation milestone; listing on NASDAQ/NYSE is a key catalyst; near-term price sensitivity to listing timeline.</li><li><strong>TerrAscend Growth Corp. (N/A)</strong>: Part of TerrAscend&#039;s North American operations; consolidation could impact funding and strategic execution.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category fits Corporate Developments as a capital-structure action tied to strategic listing plans; signals a potential re-rating if US listing progresses.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Share consolidation can reduce float and support near-term share price.</li><li>Possible NASDAQ/NYSE listing may unlock institutional demand and liquidity.</li><li>US federal cannabis enforcement risk remains a price overhang.</li><li>Listing timing and approvals will drive near-term volatility.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Special Meeting held on Aug 24, 2026.</li><li>Share Consolidation result: 143,095,552 For (99.25%); 141,435 Withheld (0.10%).</li><li>TerrAscend is TSX-listed with ticker TSND; OTCQX: TSNDF.</li><li>DOJ rule: marijuana rescheduled to Schedule III, effective Apr 28, 2026.</li><li>Forward-looking statements include potential listing on NASDAQ/NYSE.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>TSND could rally on progress toward a U.S. listing within 6–12 months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">TORONTO, Aug.  24, 2026  (GLOBE NEWSWIRE) -- <strong>TerrAscend Corp.</strong> <strong>(&#34;TerrAscend&#34; or the &#34;Company&#34;) (TSX:<a class="ticker" href="https://www.benzinga.com/quote/TSND">TSND</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/quote/TSNDF">TSNDF</a>), </strong>a leading North American cannabis operator, today announced the results of its special meeting of shareholders held on August 24, 2026 (the "Special Meeting"). Common shareholders at the Special Meeting affirmatively approved the following resolutions:</p>  <ul type="disc"><li style="text-align:justify;">The adoption of a special resolution approving the amendment to the articles of the Corporation, as amended (the "Share Consolidation Resolution"), the voting result of which are as follows;<br></br><br></br></li></ul> <table style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td colspan="2" style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: top ; "><strong>Number of Shares</strong></td></tr><tr><td style="max-width:50%; width:50%; min-width:50%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; "><strong>For:</strong></td><td style="max-width:50%; width:50%; min-width:50%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: justify ;  vertical-align: middle; vertical-align: top ; "><strong>Withheld:</strong></td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: justify ;  vertical-align: middle; vertical-align: top ; ">143,095,552 (99.25%)</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: justify ;  vertical-align: middle; vertical-align: top ; ">141,435 (0.10%)</td></tr></table> <p align="justify"><br></br>"Today&#39;s shareholder vote is an important milestone for TerrAscend and marks the completion of a key step in our preparation to list on a major U.S. stock exchange,&#34; said Jason Wild, Executive Chairman of TerrAscend. &#34;We appreciate the support of our shareholders and their confidence in our strategy.&#34;</p>  <p align="justify"><strong>About TerrAscend Corp.</strong><br></br>TerrAscend Corp. is a leading TSX-listed cannabis company with interests across the North American cannabis sector, including operations in Pennsylvania, New Jersey, Maryland, Ohio, and California through TerrAscend Growth Corp. and retail operations in Canada. TerrAscend operates The Apothecarium and other 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 or licenses several synergistic businesses and brands including The Apothecarium, Cookies, Kind Tree, Legend, State Flower, Wana, Cuue, One and Valhalla. For more information visit www.terrascend.com.</p>  <p align="justify"><strong>Caution Regarding Cannabis Operations in the United States</strong><br></br>Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. On April 23, 2026, the U.S. Department of Justice issued a final rule rescheduling marijuana contained in United States Food and Drug Administration ("FDA")-approved drug products and marijuana subject to a state medical marijuana license from Schedule I to Schedule III of the Controlled Substances Act ("CSA"), which became effective on April 28, 2026. However, any form of marijuana other than in an FDA-approved drug product or marijuana subject to a state medical marijuana license remains a Schedule I controlled substance under the CSA, and those who handle such material remain subject to the regulatory controls and administrative, civil, and criminal sanctions applicable to Schedule I controlled substances. 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.</p>  <p align="justify">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 the Company of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance.</p>  <p align="justify"><strong>Forward-Looking Information and Forward-Looking Statements</strong><br></br>This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements and forward-looking information are intended to be covered by the safe harbor provisions for forward-looking statements contained in those sections and the Private Securities Litigation Reform Act of 1995. 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, but are not limited to, the anticipated impact of cannabis-related regulatory developments, including the possibility that such regulatory developments may, over time, expand access to institutional capital and provide public multi-state operators like TerrAscend with a pathway toward a potential listing on the NASDAQ or NYSE; and the Company&#39;s expectations regarding the status and timing of its listing applications with major U.S. stock exchanges. Forward-looking information and forward-looking statements are not a guarantee of future performance and are 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.</p>  <p align="justify">Although the Company believes that the expectations and assumptions on which such forward-looking information and forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking information and forward-looking statements 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 and forward-looking statements are 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 and forward-looking statements. Such risks and uncertainties include, but are not limited to, the anticipated impact of cannabis-related regulatory developments, including the possibility that such regulatory developments may, over time, enable TerrAscend to list on the NASDAQ or NYSE, and if so desired by the Company, its expectations regarding the status and timing of its listing applications with major U.S. stock exchanges; and such risk factors set out in the Company’s most recently filed MD&amp;A, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca and in the section titled "Risk Factors" in the Company’s Annual Report for the year ended December 31, 2025 filed with the Securities and Exchange Commission on March 12, 2026, as updated by its Quarterly Reports on Form 10-Q.</p>  <p>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 or forward-looking statements, whether, as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.</p>  <p><strong>For more information regarding the Company:</strong><br></br>Eric Jackson<br></br>Chief Financial Officer<br></br><a href="https://www.globenewswire.com/Tracker?data=flt7wK-8q30yoiLNlO4Jv08CId0bRpG5AQ3g0AZtScXp8zqyM5xnTbqn_9oz_7UZ3l8jHQcuBw9ZnstV_g9THl5EQqGNERjdz3KPKqi8-oI=" rel="nofollow" target="_blank">IR@terrascend.com</a><br></br>689-345-4114</p>  <p>Investor Relations Contact:<br></br>KCSA Strategic Communications<br></br>Valter Pinto, Managing Director<br></br><a href="https://www.globenewswire.com/Tracker?data=fnMqka1SiGpBgg6_aRemjPE16A9Uf5--0yzPLX98S4y57-eprX-acfEILN1EkukzDStypInQ7DqS6E8GGSP9blBygO1ORLU3VUiF6RCj9-E=" rel="nofollow" target="_blank">TerrAscend@KCSA.com</a><br></br>212-896-1254</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxNTI4OSM3ODAxMjEyIzIwOTg0MzE="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/Y2RhM2FhMDQtYWRkYS00MWQyLWE0MzMtNjFiMjk0MGVlYjBlLTExMTAwMDItMjAyNi0wOC0yNC1lbg==/tiny/TerrAscend.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/3057ae6c-0bfe-49e0-90d4-66688bd859c8"><img src="https://ml.globenewswire.com/media/3057ae6c-0bfe-49e0-90d4-66688bd859c8/small/picture1-png.png" border="0" width="150" height="28" alt="Primary Logo"></img></a></p>

TerrAscend announced shareholder approval of a share consolidation on Aug 24, 2026, a key step toward a U.S. exchange listing. The vote was 143,095,552 For (99.25%) and 141,435 Withheld (0.10%). While this signals a potential liquidity and access to capital shift, U.S. federal cannabis regulations remain a prominent risk to execution and earnings.

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TerrAscend Announces Results of Special Meeting of Shareholders

AI summary

Sentiment rationale

Key facts

Corporate Developments