secwatch.observer — SEC 8-K summary
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Issuer:     TREES Corp (Colorado) (CANN)
CIK:        0001477009
Form:       8-K
Filed at:   2022-09-19T23:59:59+00:00
Accession:  0001558370-22-014458
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477009/000155837022014458/0001558370-22-014458-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477009/000155837022014458/cann-20220913x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-014458

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