TerrAscend Moves Forward With Plans for Potential U.S. Stock Exchange Uplisting

TORONTO, Canada – June 5, 2026 – North American cannabis company TerrAscend Corp. has announced a significant corporate initiative aimed at preparing for a future listing on a major U.S. stock exchange. The company revealed that it will hold a special meeting of shareholders on August 24, 2026, where investors will vote on a proposed share consolidation plan designed to help the company satisfy key listing requirements of leading U.S. exchanges.

Special Shareholder Meeting Scheduled for August 2026

According to the company's announcement, the special meeting will provide shareholders with an opportunity to approve a proposed consolidation of TerrAscend’s common shares. The record date for determining shareholder eligibility to vote has been set for June 30, 2026. Additional details, including the proposed consolidation ratio and related information, are expected to be included in the management information circular that will be filed with U.S. and Canadian securities regulators before the meeting.

The move represents an important step in TerrAscend’s broader strategy to position itself for a potential uplisting to a major U.S. stock exchange, which could significantly enhance the company’s visibility among institutional and retail investors.

Why the Share Consolidation Matters

Many major U.S. stock exchanges require companies to maintain minimum share price thresholds before they can qualify for listing. A share consolidation, sometimes referred to as a reverse stock split, reduces the number of outstanding shares while proportionally increasing the share price.

TerrAscend's Board of Directors believes implementing a share consolidation, subject to shareholder approval, would better position the company to meet these requirements if and when opportunities for U.S. exchange listings become available.

By taking proactive steps now, TerrAscend aims to ensure it can move quickly should regulatory and market conditions permit cannabis operators to gain access to larger U.S. trading venues.

Management Sees Growing Opportunity in U.S. Markets

Jason Wild, Executive Chairman of TerrAscend, expressed confidence regarding the company's long-term prospects for securing a major U.S. exchange listing.

According to Wild, recent regulatory developments in the United States have created meaningful progress for the cannabis industry. He emphasized that the company believes a U.S. exchange uplisting is becoming increasingly likely and that the current shareholder vote represents a crucial milestone in preparing for that future opportunity.

Wild also noted that TerrAscend has been preparing for this possibility for several years. The company became an SEC reporting issuer in 2022 and has reportedly engaged in discussions with major U.S. stock exchanges regarding future listing opportunities.

Regulatory Changes Could Open New Doors

The cannabis industry has experienced significant regulatory developments in recent months. Industry observers note that evolving federal policies and ongoing discussions surrounding cannabis rescheduling have increased optimism among cannabis companies seeking broader access to U.S. capital markets.

While federal restrictions on cannabis remain in place, many companies are positioning themselves for potential regulatory shifts that could eventually allow plant-touching cannabis operators to list on major exchanges such as Nasdaq or the New York Stock Exchange.

TerrAscend's latest announcement suggests the company intends to be fully prepared if such opportunities emerge.

Benefits of a Potential U.S. Exchange Listing

A successful uplisting to a major U.S. stock exchange could provide several advantages for TerrAscend, including:

• Greater access to institutional investors.
• Improved stock liquidity and trading volume.
• Expanded analyst coverage.
• Enhanced corporate visibility.
• Broader participation from retail investors.
• Potentially lower capital-raising costs.

Industry experts have long viewed access to major U.S. exchanges as a transformative event for cannabis companies because it can increase credibility and improve access to public capital markets.

TerrAscend’s Position in the Cannabis Industry

TerrAscend is considered one of the leading cannabis operators in North America. The company maintains operations across several important U.S. cannabis markets, including:

• Pennsylvania
• New Jersey
• Maryland
• Ohio
• California

In addition to its U.S. operations, TerrAscend also operates retail cannabis businesses in Canada. The company manages cultivation, manufacturing, processing, and retail activities through a portfolio of recognized cannabis brands and dispensary networks.

Key Brands Within the TerrAscend Portfolio

The company's portfolio includes several well-known cannabis brands and retail concepts, such as:

• The Apothecarium
• Kind Tree
• Cookies
• Ilera Healthcare
• State Flower
• Legend
• Wana
• Valhalla Confections

These brands serve both medical cannabis patients and adult-use consumers across multiple jurisdictions.

Investor Considerations and Risk Factors

Despite the positive outlook surrounding a potential uplisting, TerrAscend acknowledged that significant uncertainties remain.

The proposed share consolidation must first receive shareholder approval at the August meeting. Additionally, any future listing on a major U.S. exchange would depend on regulatory developments, exchange policies, and the company's ability to satisfy all applicable listing standards.

Federal cannabis laws in the United States continue to create challenges for cannabis operators. Although many states have legalized medical and adult-use cannabis programs, marijuana remains subject to federal restrictions, creating ongoing legal and regulatory complexities for the industry.

Strategic Preparation for Future Growth

TerrAscend's decision to pursue shareholder approval for a share consolidation demonstrates management's commitment to long-term strategic planning. Rather than waiting for regulatory conditions to change, the company is taking steps today that could allow it to act quickly if future opportunities arise.

For investors, the upcoming shareholder vote represents more than a routine corporate action. It reflects TerrAscend's confidence in the evolving regulatory environment and its ambition to become one of the first major North American cannabis operators positioned for a potential uplisting to a premier U.S. stock exchange.

Looking Ahead

The August 2026 special meeting will be closely watched by investors, analysts, and cannabis industry stakeholders. If approved, the share consolidation could become a foundational step in TerrAscend's pursuit of broader market access and enhanced shareholder value.

As regulatory developments continue to reshape the cannabis landscape in North America, TerrAscend appears determined to remain at the forefront of the industry's next phase of growth. The company's preparations today could ultimately position it to capitalize on future opportunities in the world's largest capital markets.

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