TREES Corporation Announces the Closing of the Green Man Acquisition; Expanding Brand in the Denver Metro Area

Rhea-AI Summary

On December 20, 2022, TREES CORPORATION (OTCQB: CANN) announced the successful acquisition of the Green Man cannabis dispensary in Denver, enhancing its position as a prominent cannabis retailer. This strategic move aims to drive substantial value for shareholders and expand the TREES brand in South Denver. The dispensary will be rebranded under the TREES name, aligning with the company's growth strategy in the cannabis sector. The acquisition is part of TREES' broader initiative to consolidate operations and strengthen its market presence.

Positive

• Acquisition of Green Man dispensary enhances market presence.
• Strategic rebranding to bolster TREES' brand recognition in South Denver.
• Expected to drive significant shareholder value.

Negative

• None.

DENVER, Dec. 20, 2022 (GLOBE NEWSWIRE) -- TREES CORPORATION (OTCQB: CANN) (“TREES” or the “Company”), a vertically-integrated operator in Colorado, is pleased to announce the closing of the transaction to acquire the Green Man cannabis dispensary, located in Denver. This strategic expansion allows TREES to further solidify its position as a leading cannabis retailer and is anticipated to drive significant value for our shareholders.

The full service dispensary located in Denver on East Hampden Avenue will be rebranded as TREES as part of our initiative to expand the overall brand.

Adam Hershey, Interim CEO of TREES, said, “We are thrilled to have closed this transaction quickly and bring our signature brand TREES to South Denver. The team is proud to welcome the new TREES-branded dispensary to the portfolio.”

ABOUT TREES

TREES is the parent company of a vertically-integrated cannabis company and multi-state operator in the U.S., operating in Colorado and Oregon. TREES is pursuing a roll-up strategy of licensed assets in mature markets, while maintaining loyal, local customer bases. TREES currently owns and operates a light-deprivation greenhouse and a campus of indoor cultivation facilities in Boulder, dispensaries in Englewood, Longmont and Berthoud, Colorado and three dispensaries in Portland, Oregon. TREES trades on the OTCQB market under the symbol CANN. For more information, please visit treescann.com.

Forward-looking Statements

This press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are 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. Although TREES believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, caution must be exercised in relying on forward-looking statements because TREES 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 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 statements. Such risks and uncertainties include, but are not limited to, current and future market conditions; the expected or potential impact of the COVID-19 pandemic on TREES' business operations, financial results and position, as well as world economy and volatility, risks related to federal, state, local and foreign government laws, rules and regulations, including changes in the regulation of medical and recreational cannabis use; as well as those risks and uncertainties discussed from time to time in TREES' most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q under the heading "Risk Factors" and in subsequent filings with the Securities and Exchange Commission. The statements in this press release are made as of the date of this release. TREES undertakes no duty to update any forward-looking statements made herein.

Contact:
IR@treescann.com

FAQ

What is the significance of TREES' acquisition of Green Man dispensary?

The acquisition enhances TREES' market presence and supports its strategy for brand expansion in Colorado.

When did TREES complete the acquisition of Green Man dispensary?

TREES completed the acquisition on December 20, 2022.

What will happen to the Green Man dispensary after the acquisition?

The Green Man dispensary will be rebranded as TREES as part of the company's expansion initiative.

How does the acquisition impact TREES' stock symbol CANN?

The acquisition is expected to positively influence TREES' growth and shareholder value, potentially impacting stock performance under the symbol CANN.