Trees Corporation (NEO:TREE.AQN) told investors that it is looking for alternatives to create shareholder value after 420 Investments Ltd unilaterally terminated a previously announced business combination agreement between the two companies.
In a statement, the Canadian cannabis company said its board of directors intends to undertake a comprehensive review to identify and consider a range of alternatives and their potential to enhance shareholder value.
These alternatives could include a merger or business combination with another party, an asset sale, a strategic partnership, or any combination of these measures, among others, it added.
Trees said it didn’t plan to set a timeframe for the evaluation process and cautioned that there were no guarantees that the process would result in a transaction.
It also said that it reserves all of its rights against 420 concerning the unilateral termination of the merger agreement.
Trees Corporation (NEO:TREE.AQN) is a cannabis company at the intersection of community, content, and commerce. Listed on Cboe Canada, Trees offers a differentiated retail experience, that aims to educate, amplify and unlock emerging consumer segments and need-states that allow Trees to uniquely engage the 360-cannabis consumer.
The company currently operates 14 Trees storefronts in Canada, including nine stores in Ontario and five stores operated in British Columbia.
Contact the author at stephen.gunnion@proactiveinvestors.com