DENVER — Trees Corp. (OTCQB: CANN), the Denver-based cannabis company formerly known as General Cannabis Corp., has closed on its acquisition of Green Tree Medicinals dispensary locations in Longmont and Berthoud, along with more than 34,000 square feet of grow operations and a manufacturing facility.
The deal, terms of which were not disclosed, “continues the rapid and targeted expansion of Trees’ dispensary footprint and supports our ongoing retail expansion plan in Colorado,” the buyer said in a prepared statement.
In addition to the new dispensaries in Berthoud and Longmont, Trees’ Boulder Valley and Northern Colorado holdings include a 17,000-square-foot light-deprivation greenhouse cultivation facility in Boulder.
Green Tree Allyson Feiler will join Trees’ board of directors.
“We are excited to welcome Ally to the board, bringing a diverse perspective and a decade of experience in the cannabis space,” board chairman Carl Williams said in a statement. “We see an incredible opportunity to elevate the Trees manufacturing and cultivation capabilities, while at the same time accelerating our store footprint with the closing of the deal.”