TerrAscend Announces Record Revenues for Second Quarter 2019 and Increases Full Year Guidance – PRNewswire

— Second quarter revenue of $17.6 million, an increase of 21% from $14.6 million in the first quarter of 2019.

— On a pro forma basis, TerrAscend, including completed and pending disclosed acquisitions, generated $42 million of revenue in the second quarter, or over $168 million on an annualized basis.1

— Company raises guidance. Revenues now expected to exceed $141 million1 in 2019, up from $135 million1 as previously announced on April 15, 2019.

— Strong enterprise-wide sales growth in the US and Canada.

— Good Manufacturing Practices (“GMP”) certification achieved in second quarter with first exports to Germany in August 2019, making TerrAscend the first and only global cannabis company with sales in the US, Canada and Europe.

— TerrAscend Canada has completed construction and is awaiting licensing from Health Canada for 41,000 sq ft of additional cultivation, processing, and R&D space.

TORONTO, Aug. 22, 2019 /PRNewswire/ – TerrAscend Corp. (CSE: TER;OTCQX: TRSSF) (“TerrAscend” or “the Company”) today reported financial results for the second quarter ending June 30, 2019. Financial results and analyses are available on the Company’s website (www.terrascend.com) and SEDAR (www.sedar.com). All figures are reported in Canadian dollars, unless otherwise indicated.

Financial Highlights

For the three months ended June 30, 2019, TerrAscend generated revenue of $17.6 million, an increase of 21% from $14.6 million in the first quarter of 2019 and compared with $0.01 million in the comparable second quarter of 2018. Adjusted EBITDA (non-GAAP measure) was ($12.5 million) for the second quarter of 2019, compared with ($6.4 million) in the first quarter of 2019 and ($4.0 million) in the comparable second quarter of 2018. On a pro forma basis, TerrAscend, including completed and pending disclosed acquisitions, generated $42 million of revenue in the second quarter, or over $168 million on an annualized basis. Second quarter pro forma

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