Trees Corp acquires Green Tree assets for $500K cash + 18M shares; issues $13.5M convertible notes

TREES Corp (Colorado)

Purchase price: $500K cash at closing, 17,977,528 shares of common stock, plus $3.5M cash in 15 monthly payments.
Issued $13.5M senior secured convertible notes (12% interest, mature Sept 2026); investors also received warrants at $0.70/share.
Appointed Edward Myers as COO; Adam Hershey remains interim CEO under new consulting agreement at $200K/year.
Acquisition is contingent on approval from Colorado Marijuana Enforcement Division; multiple closings possible.
Employment agreements for Allyson Feiler (CMO, $225K salary) and Loree Schwartz (CCO, $150K salary) with bonuses.

item 1.01 item 2.03 item 3.02 item 5.02 item 9.01

Executive movements

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Appointed

Edward Myers

Chief Operating Officer

CANN · TREES Corp (Colorado)

Effective: 2022-09-16
Filed: September 19, 2022, 7:59 PM ET

On September 16, 2022, the Company appointed Edward Myers, 63, as its Chief Operating Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Edward Myers was appointed as Chief Operating Officer at TREES Corp (Colorado).

Action: appointed
Role: Chief Operating Officer

Exact text from the filing

On September 16, 2022, the Company appointed Edward Myers, 63, as its Chief Operating Officer.

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TREES Corp (Colorado) filing history →

Source: SEC EDGAR

accession 0001558370-22-014458

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