DENVER — Trees Corp. (OTCQB: CANN), the Denver-based cannabis company formerly known as General Cannabis Corp., has acquired Green Tree Medicinals dispensary locations in Longmont and Berthoud, along with more than 34,000 square feet of grow operations and a state of the art manufacturing facility.
The companies did not disclose the value of the deal, but Trees said it would buy Green Tree with a combination of cash and stock.
Green Tree founder Allyson Feiler will join Trees as chief marketing officer.
“It is an exciting time at the Trees organization, as the last couple of years of hard work are beginning to bear fruit,” Trees chairman Carl Williams said in a prepared statement. “We’ve developed a rich pipeline of target acquisitions and continue to enhance our internal capabilities. We would like to welcome the entire Green Tree team to the organization and see this as one more step toward becoming one of the strongest operational players in the Colorado market.”
In addition to the new dispensaries in Berthoud and Longmont, Tree’s Boulder Valley and Northern Colorado holdings include a 17,000 square foot light-deprivation greenhouse cultivation facility in Boulder.