Trees Corporation, a next-now cannabis company at the intersection of community, content, and commerce, is pleased to announce that the board of directors of the Company has approved the granting of options (“Options“) to purchase up to 6,190,696 common shares in the capital of the Company to certain employees and consultants of the Company, and the award of an aggregate of 17,741,607 restricted share units to certain officers and directors of the Company. The Options are exercisable at a price of $0.03 per share for a period of five (5) years from the date of issuance.
About Trees
Trees is a cannabis company at the intersection of community, content, and commerce. Publicly traded, Trees offers a differentiated retail experience, combined with digital platforms that aim to educate and amplify, unlocking emerging consumer segments and need states that allows Trees to uniquely engage the 360 cannabis consumer. The company has 11 Trees branded storefronts in Canada, including seven (7) stores owned and operated in Ontario and four (4) stores operated in BC, subject to the closing of the acquisition of the assets of 101 pursuant to the terms of the third amended and restated asset purchase agreement between Trees and 1015712 B.C. Ltd. (the “APA“). The closing of the transactions contemplated by the APA is subject to certain conditions precedent, including the receipt of certain licensing approvals and related regulatory consents. Until such time as the closing of the acquisition of the assets under the terms of the APA, the BC stores are subject to a brand license agreement and are included when reporting System-Wide Retail Sales2
