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November 16 , 2021 A TERRASCEND TerrAscend Reports Third Quarter Net Sales of $ 49.1 Million and Adjusted EBITDA ( 1 ) of $ 10.5 Million NEW YORK and TORONTO , Nov. 16 , 2021 / CNW / - TerrAscend Corp. ( " TerrAscend " or the " Company " ) ( CSE : TER ) ( OTCQX : TRSSF ) , a leading North American cannabis operator , today reported its financial results for the third quarter and nine - month periods ending September 30 , 2021. All amounts are expressed in U.S. dollars unless indicated otherwise and are prepared under International Financial Reporting Standards ( " IFRS " ) . A TERRASCEND Third Quarter 2021 Financial Highlights ( Unless otherwise stated , all results are in U.S. dollars ) • Net Sales increased 29 % year - over - year to $ 49.1 million and declined 16 % sequentially . • Adjusted Gross Profit Margin 1 of 46 % compared to 59 % in Q3 2020 and 61 % in Q2 2021 . • Adjusted EBITDA¹ of $ 10.5 million compared to $ 13.2 million in Q3 2020 and $ 24.3 million in Q2 2021 . • Adjusted EBITDA Margin¹ of 21 % compared to 35 % in Q3 2020 and 41 % in Q2 2021 . • Cash balance of $ 103 million at quarter end to support growth initiatives . Jason Wild , Executive Chairman of TerrAscend , commented , " I am pleased with the improvements made in Pennsylvania since we withdrew full year 2021 guidance in August . The ratio of quality flower to trim from recent harvests has increased dramatically . Additionally , THC and Terpene potency has been testing at all - time highs . In New Jersey , we are well prepared for adult use once the state gives us the go ahead . Our New Jersey Apothecarium dispensaries will have some of the best selection and depth of product available in the state at launch . We are building this business for success over the long term and will continue to make decisions with that mindset . For the 4th quarter , we expect to show sequential revenue and adjusted EBITDA growth with these positive trends accelerating into 2022. " Third Quarter 2021 Operational Highlights • Previously disclosed yield issues in Pennsylvania have been rectified , with the highest