8-K filed December 13, 2022, 6:59 PM ET ticker CANN CIK 0001477009

M&A confidence high sentiment neutral materiality 0.75

TREES Corp (Colorado) (CANN): M&A transaction — TREES closes acquisition of Green Tree Entities for $4M cash plus 17.98M shares

TREES Corp (Colorado)

Total cash consideration of $500K at closing plus $3.5M in 15 monthly payments; 17.98M shares issued (subject to adjustment).
John Barker Dalton resigned from board; Allyson Feiler elected director and appointed CMO ($225K salary, $383K bonus).
Feiler, a principal owner of the acquired entities, received $191.5K cash at closing, $1.34M future cash, and 7.11M shares.
Financial statements of Green Tree Entities to be filed within 71 days of this report.
Shares issued in reliance on Section 4(a)(2) exemption from registration.

item 2.01 item 5.02 item 3.02 item 9.01

Executive movements

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Departed

John Barker Dalton

Director

CANN · TREES Corp (Colorado)

Effective: 2022-12-12
Successor: Allyson Feiler
Filed: December 13, 2022, 6:59 PM ET

On December 12, 2022, John Barker Dalton resigned from the Company’s Board of Directors (“Board”).

Appointed

Allyson Feiler

Director

CANN · TREES Corp (Colorado)

Effective: 2022-12-12
Filed: December 13, 2022, 6:59 PM ET

On December 12, 2022, Allyson Feiler was elected to serve on the Board until the next annual meeting of stockholders of the Company and until her successor is duly elected and qualified.

Appointed

Allyson Feiler

Chief Marketing Officer

CANN · TREES Corp (Colorado)

Effective: 2022-12-12
Filed: December 13, 2022, 6:59 PM ET

Also on December 12, 2022, the Company and Ms. Feiler entered into a two-year employment agreement, pursuant to which Ms. Feiler will be employed by the Company as its Chief Marketing Officer at an annual base salary of $225,000, with an agreed one-time bonus equal to $383,071.43

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John Barker Dalton resigned as Director at TREES Corp (Colorado).

Action: resigned
Role: Director

Exact text from the filing

On December 12, 2022, John Barker Dalton resigned from the Company’s Board of Directors (“Board”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Allyson Feiler was elected as Director at TREES Corp (Colorado).

Action: elected
Role: Director

Exact text from the filing

On December 12, 2022, Allyson Feiler was elected to serve on the Board until the next annual meeting of stockholders of the Company and until her successor is duly elected and qualified.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Allyson Feiler was appointed as Chief Marketing Officer at TREES Corp (Colorado).

Action: appointed
Role: Chief Marketing Officer

Exact text from the filing

Also on December 12, 2022, the Company and Ms. Feiler entered into a two-year employment agreement, pursuant to which Ms. Feiler will be employed by the Company as its Chief Marketing Officer at an annual base salary of $225,000, with an agreed one-time bonus equal to $383,071.43

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

TREES Corp (Colorado) completed an acquisition involving Green Tree Entities (Ancient Alternatives LLC, Natural Alternatives For Life, LLC, Mountainside Industries, LLC, Hillside Enterprises, LLC, and GT Creations, LLC) for $500,000 cash and 17,977,528 shares of common stock (closed 2022-12-12).

Action: acquisition
Counterparty: Green Tree Entities (Ancient Alternatives LLC, Natural Alternatives For Life, LLC, Mountainside Industries, LLC, Hillside Enterprises, LLC, and GT Creations, LLC)
Consideration: $500,000 cash and 17,977,528 shares of common stock
Closing: 2022-12-12

Exact text from the filing

a Colorado limited liability company (collectively, the “Green Tree Entities”). At the closing, the Company delivered to the Green Tree Entities an aggregate of cash equal to $500,000 and delivered to equity holders of the Green Tree Entities an aggregate of 17,977,528 shares (“Buyer Shares”) of the Company’s common stock, par value $0.01 per share (“Common

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TREES Corp (Colorado) filing history →

Source: SEC EDGAR

accession 0001558370-22-018568

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