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.