M&A - TREES Corp (Colorado)

Form Type: 8-K

Filing Date: 2025-02-05

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025010427

Filing Summary: On January 31, 2025, TREES Corporation, through its subsidiary Trees Colorado LLC, entered into a Membership Interest Purchase Agreement to acquire all membership interests of Chronic Therapy, which operates a licensed dispensary in Wheat Ridge, Colorado. The acquisition price is $1,750,000, with $1,487,500 payable at closing and $262,500 held back for indemnification. Additionally, a new lease was executed for a term of five years at an initial monthly rent of $8,600, increasing annually. The acquisition is subject to regulatory approval from the Colorado Marijuana Enforcement Division. On February 1, 2025, Mikayla Gilbert was promoted to Chief Financial Officer, replacing Edward Myers who resigned. Gilbert's base salary is set at $120,000 with potential for an annual bonus.