Trees To Acquire 5 Retail Cannabis Stores In British Columbia

Trees Corporation TREE, is now provincially licensed to operate in British Columbia, having received due diligence approval from the British Columbia Liquor and Cannabis Regulation Branch. Trees will now commence with the closing of its previously announced acquisition of five stores on Vancouver Island pursuant to the terms of the third amended and restated asset purchase agreement between Trees and 1015712 B.C. Ltd. ("APA"). Until such time as the transactions contemplated by the APA close, the 5 stores will continue to operate as Trees Cannabis locations in accordance with the previously disclosed brand license agreement between the parties.

"We are excited to share this very positive news of our approval to operate in the province of British Columbia," Jeff Holmgren, president and CFO of Trees stated. "Now with a BC operators' license in-hand, we can quickly move to close the acquisition of the 5 BC stores, which for the month of August, recorded gross sales of approximately $440,000, representing an approximate 50% increase in sales for Trees post-close."

About Trees

Trees is a publicly traded, cannabis company. The company currently has 13 Trees branded storefronts in Canada, including eight stores owned and operated in Ontario.

Photo by Jeff W on Unsplash

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