Trees Corporation announces, further to the Company’s press release dated July 13, 2023, that 420 Investments Ltd. (“420”) has unilaterally terminated the business combination agreement dated July 12, 2023, entered into between the Company and 420 (the “BCA”), effective as of November 2, 2023.The Company reserves all of its rights against 420 with regard to the unilateral termination by 420 of the BCA. The board of directors of the Company intends to undertake a comprehensive review to identify and consider a range of alternatives and their potential to enhance shareholder value.
These alternatives could include, but are not limited to, a merger or business combination with another party, an asset sale, a strategic partnership or any combination of the foregoing. The Company does not intend to set a definite schedule to complete its evaluation process and cautions that there are no assurances or guarantees that the process will result in a transaction, or if a transaction is undertaken, terms or timing of such a transaction.
About Trees Corporation
Trees is a cannabis company at the intersection of community, content, and commerce. Listed on Cboe Canada, Trees offers a differentiated retail experience, that aims to educate, amplify and unlock emerging consumer segments and need states that allows Trees to uniquely engage the 360-cannabis consumer. The Company currently operates fourteen (14) Trees storefronts in Canada, including nine (9) stores in Ontario and five (5) stores operated in BC.
