Trees Corporation TREE has entered into a business combination agreement dated July 12, 2023 with 420 Investments Ltd., pursuant to which the company and 420 will amalgamate, constituting a reverse takeover of the company by 420 under the policies of Cboe Canada, the new business name of the NEO Exchange.
The amalgamated company resulting from the completion of the cransaction will be named "420 Investments Ltd." or such other name as directed by 420. Subject to the approval of Cboe Canada, the common shares of the resulting issuer will be listed on Cboe Canada under a new trading symbol to be determined by 420. Prior to the execution of the business combination agreement, the directors, officers and certain significant shareholders of each of Trees and 420 entered into support agreements, pursuant to which such parties have agreed to vote in favor of the transaction contemplated by the business combination agreement at the meetings of the shareholders of Trees and 420, respectively.
Freida Butcher, chair of the board of 420, stated: "We are very proud of the performance of FOUR20 to not only survive the pandemic, but to have grown from 14 stores in 2020 to our current 40 stores. We are very pleased to have found another retailer in Trees with the same values and with stores that will expand our brand in Ontario and allow us to take our first steps into B.C. We are also very pleased to note that upon completion of the business combination, all significant long-term debt other than that tied up in litigation will have been either converted to equity or otherwise eliminated, leaving the company in a strong position to continue its path of strategic growth and service to its customers."
Benzinga Cannabis Capital Conference
The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
Photo: Benzinga edit with photos by geralt and lindsayfox on Pixabay
Related News
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!