Trees Corporation (OTCPK:CANN) signed a definitive agreement to acquire Substantially All of the Assets of GMC, LLC for $3.7 million on October 28, 2022. The purchase price in connection with the GMC Acquisition consists of cash equal to $1.2 million payable at closing, 4,494,382 shares of common stock of the Company, issuable to the GMC members upon closing; and an amount equal to $83,333.33 per month, commencing on the 12-month anniversary of the closing, and continuing each month thereafter for a total of 18 months, for a total additional consideration of $1,500,000. The transaction is subject to Colorado Marijuana Enforcement Division and local licensing approval and is expected to complete in 2022. Gonnell Law acted as legal advisor to GMC.

Trees Corporation (OTCPK:CANN) completed the acquisition of Substantially All of the Assets of GMC, LLC on December 19, 2022.