TREES Corporation Announces the Closing of the Green Tree Acquisition; Adding Retail Dispensaries in Longmont and Berthoud, Colorado

Rhea-AI Summary

TREES CORPORATION (OTCQB: CANN) announced the closing of the acquisition of Green Tree cannabis dispensaries in Berthoud and Longmont, Colorado, along with associated cultivation and manufacturing assets. This move advances TREES' retail expansion strategy in Colorado. Allyson Feiler, founder of Green Tree, was appointed to TREES' Board of Directors. The Chairman emphasized the opportunity to enhance manufacturing and cultivation capabilities through this acquisition while affirming the company's ongoing evaluation of further strategic transactions.

Positive

• Expansion of dispensary footprint in Colorado.
• Acquisition enhances TREES' manufacturing and cultivation capabilities.
• Appointment of Allyson Feiler brings valuable experience to the Board.

Negative

• None.

DENVER, Dec. 13, 2022 (GLOBE NEWSWIRE) -- TREES CORPORATION (OTCQB: CANN) (“TREES” or the “Company”), a leading vertically-integrated operator in Colorado, is pleased to announce the closing of the transaction to acquire the Green Tree cannabis dispensaries, located in Berthoud and Longmont, Colorado, along with additional cultivation and manufacturing assets. This purchase continues the rapid and targeted expansion of TREES’ dispensary footprint and supports our ongoing retail expansion plan in Colorado.

Allyson Feiler, the founder of Green Tree, was elected to serve on our Board of Directors as well as our Nominating Committee, on December 12, 2022.

Chairman of the Board, Carl Williams, said, “We are excited to welcome Ally to the Board, bringing a diverse perspective and a decade of experience in the cannabis space. We see an incredible opportunity to elevate the TREES manufacturing and cultivation capabilities, while at the same time accelerating our store footprint with the closing of the deal.”

The Company continues to evaluate merger and acquisition transactions that fit both financially and strategically into our geographic expansion plans.

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 recent acquisition has TREES CORPORATION made?

TREES CORPORATION has acquired Green Tree cannabis dispensaries located in Berthoud and Longmont, Colorado.

What impact will the acquisition of Green Tree have on CANN?

The acquisition is expected to enhance TREES' manufacturing and cultivation capabilities, and expand its retail presence in Colorado.

Who was appointed to TREES' Board of Directors after the acquisition?

Allyson Feiler, the founder of Green Tree, was elected to serve on TREES' Board of Directors.

What is TREES CORPORATION's stock symbol?

TREES CORPORATION trades on the OTCQB under the symbol CANN.