Trees Corporation TREEis now provincially licensed to operate in British Columbia, after receiving due diligence approval from the British Columbia Liquor and Cannabis Regulation Branch. Trees is now beginning to complete its previously announced acquisition of five Vancouver Island stores pursuant to the terms of the third amended and restated purchase agreement between Trees and 1015712 BC Ltd. (“APAPending the closing of the transactions contemplated by the APA, the 5 stores will continue to operate as Trees Cannabis locations in accordance with the previously announced trademark license agreement between the parties.
“We are very pleased to share this very positive news about our permit to operate in the Province of British Columbia,” jeff holmgren, Trees President and CFO Explained. “With a BC operator’s license in hand, we can now quickly complete the acquisition of the 5 BC stores that posted gross sales of approximately $440,000 in August, representing an approximately 50% increase in sales for Trees after closure.”
About trees
Trees is a publicly traded cannabis company. The Company currently has 13 Trees branded stores in Canada, including eight stores located and operated in Ontario.
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