Gage Cannabis Announces Fourth Social Equity Grant Recipient

DETROIT – Gage Cannabis, a subsidiary of TerrAscend Corp. and a high-quality cannabis brand and operator in Michigan, today announced its fourth social equity grant recipient, Midwest CannaNurses. MCN is a Detroit-based minority-owned holistic health and wellness education consulting company dedicated to health advocacy, education, and inclusion with a focus on cannabis as an alternative therapy.

“Midwest CannaNurses is extremely grateful to receive Gage’s generous grant, which will aid our mission to educate the community about cannabis as an alternative therapy for health and wellness,” said Biyyiah Lee, Co-founder and CEO of Midwest CannaNurses. “With this contribution, we will be able to provide professional development for nurses and allied health professionals and expand our community outreach efforts by holding more educational seminars for the public. We’re glad to see companies like Gage seeking opportunities to support organizations that uplift diverse communities, and this social equity grant will enable us to continue advocating for safe and informed cannabis use.

Founded in 2020 by a group of licensed nurses who recognized their unique position and duty to normalize cannabis as medicine, Midwest CannaNurses has strived to close the current gap in the public’s knowledge through education efforts including their “Outgrow The Stigma” initiative. Across Michigan, MCN offers consulting services with a focus on cannabis as medicine, and provides education on topics such as dosing titration, safe consumption, routes of administration and Individualized CannaPlans.

“Gage and TerrAscend are proud to award our social equity grant to Midwest CannaNurses, a valuable organization focused on advocating for safe, effective cannabis use while demanding destigmatization and decriminalization in communities of color,” said Mike Finos, President and EVP of Operations at Gage Cannabis. “Biyyiah and MCN are an exceptionally talented group of health experts providing education and resources to patients and medical professionals throughout Michigan. We look forward to supporting MCN as it continues to eliminate disparities of access and improve their patients’ quality of life for years to come.”

The grant recipient’s launch event, Midwest CannaNurses Presents: Let’s #OutgrowTheStigma: Healthcare, Cannabis, and Metro Detroit, is free and open to the public and will be held on November 3, 2022, at the Durfee Innovation Center (2470 Collingwood St). AJ Williams of the Michigan Chronicle will host and moderate an educational panel of industry leaders, including James Tate, City Council President Pro Tem, City of Detroit; Biyyiah Lee, Co-founder & CEO Midwest Cannanurses; and a retail cannabis representative. Register for the event here: bit.ly/cannabisandhealthcaredetroit.

This news release contains “forward-looking information” within the meaning of applicable securities laws. 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. Forward-looking information is not a guarantee of future performance and is 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.

Forward-looking statements in this news release include, but are not limited to: statements with respect to the Michigan market generally and future consumer access to TerrAscend brands in Michigan. Actual results and developments may differ materially from those contemplated by these statements. Such forward-looking statements are based on certain assumptions regarding expected growth, results of operations, performance, industry trends and growth opportunities. While TerrAscend considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking information is 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. Such risks and uncertainties include, but are not limited to, current and future market conditions; risks related to federal, state, provincial, territorial, local and foreign government laws, rules and regulations, including federal and state laws in the United States relating to cannabis operations in the United States; and the risk factors set out in TerrAscend’s management information circular dated October 4, 2021, and TerrAscend’s most recently filed MD&A, both filed with the Canadian securities regulators and available under TerrAscend’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. TerrAscend disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. 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.

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 TerrAscend of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against TerrAscend. The enforcement of federal laws in the United States is a significant risk to the business of TerrAscend and any proceedings brought against TerrAscend thereunder may adversely affect TerrAscend’s operations and financial performance.

(This information is primarily sourced from TerrAscend.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).