Trees Corporation to acquire Green Tree assets to expand its footprint

Cannabis Company, TREES CORPORATION, is delighted to announce that it has entered into a definitive agreement to take over the Green Tree Berthoud and Green Tree Longmont dispensaries in the Colorado state, around 34,000 Sq. Ft of grow operations and a state-of-the-art manufacturing facility (MIP).

This acquisition will strengthen the firm’s presence in Colorado and bring its 4 dispensaries in Colorado and 3 operational stores in Oregon to a total of 7 retail dispensaries.

According to sources, the latest acquisition will generate revenue of $10 million plus strong EBITDA margins in the TREES platform.

Pivotal to note that the Green Tree acquisition will be executed for a combination of stock and cash.

Apparently, the company is planning to submit the change of ownership application with the Colorado Marijuana Enforcement Division with all the assets to be acquired and expects to close the acquisition in the fourth quarter of 2022.

Besides, the firm is also pleased to appoint Edward Myers as its Chief Operating Officer (COO) effective, widening its bench of executive talent.

For the record, Myers holds an exceptional 40 years of experience in the payments industry and has worked as a financial and operations consultant to the company.

Speaking on the latest move, Carl Williams, Chairman of the Board, stated that the firm has developed a strong pipeline of target acquisitions and continues to augment its internal capabilities.

Carl added that the firm is delighted to welcome the entire Green Tree team and looks forward to becoming a leading operational player in the Colorado market.

At the time of closing, the senior leadership of Green Tree will become an essential part of the Trees team.

Founder of Green Tree, Allyson Feiler, will become a Trees Board of Directors member and join as Chief Marketing Officer.

Owner, Head of Compliance & CFO of Green Tree, Loree Schwartz, will also be joining the Trees executive team as Chief Compliance Officer.

Source credit - https://www.globenewswire.com/news-release/2022/09/19/2518205/34721/en/TREES-CORPORATION-Announces-Definitive-Agreement-to-Acquire-the-Assets-of-Green-Tree-Further-Expanding-Its-Footprint-in-Colorado.html