Trees Corporation announced that the Company has received final approval to list its common shares on the Neo Exchange Inc. Trading is expected to commence at market open on January 11, 2022 under the symbol “TREE”.
“We expect 2022 to be an exciting year, beginning with this public listing milestone and followed by a growth strategy with an aim of securing Trees as a leading national cannabis retailer with a highly differentiated approach to serving the needs of cannabis consumers across the user profile spectrum,” stated Jon Conquergood, CEO of Trees. Jeff Holmgren, CFO added, “Investors in this segment have become increasingly discerning and we believe Trees will demonstrate – through sound execution and prudent management – an ability to grow and achieve scale by capitalizing on the extensive and accretive growth opportunities prevalent in the market today.”
About Trees
Trees is an independent retail cannabis operator that is deeply rooted in the cannabis community and has been a respected voice of advocacy for cannabis legalization. Through its trusted reputation, history and passion for the ‘plant’, Trees delivers a unique and authentic consumer experience. With 10 Trees branded storefronts in Canada, including six (6) stores owned and operated in Ontario by Trees and four (4) additional stores operated by 1015712 B.C. Ltd. (“101“) in British Columbia. Trees has agreed to purchase the assets of 101 pursuant to the terms of the second amended and restated asset purchase agreement (the “101 Purchase Agreement“) entered into between Trees and 101. The closing of the transactions contemplated by the 101 Purchase Agreement is subject to certain conditions precedent, including the receipt of certain licensing approvals and related regulatory consents.
During the first quarter of 2022, and subject to the receipt of regulatory approvals, Trees anticipates opening two (2) new owned and operated storefronts in Ontario and anticipates that 101 will open one (1) new storefront in British Columbia under the Trees brand, increasing the total Trees branded platform to 13 storefronts with additional locations in reserve providing a platform for continued growth in 2022 and beyond.
