March 18, 2022

TREES CORPORATION ANNOUNCES APPOINTMENT OF ADDITIONAL INDEPENDENT DIRECTOR

TORONTO, March 18, 2022 /CNW/ – Trees Corporation (NEO: TREE) (the “Company” or “Trees“), a premier Canadian cannabis retailer, is pleased to announce that Lisa Dea has been appointed to the board of directors of Trees (the “Board“) with immediate effect.

Jeffrey Holmgren, President and Chief Financial Officer of Trees, stated “We are thrilled to welcome Lisa to the Board as an independent director.  Lisa’s financial and operational background, coupled with her many years of executive experience serving Canadian public companies, will be an invaluable addition to Trees as we work towards the achievement of our growth plans.”

Lisa Dea, CPA, CA has 25 years of experience in the finance, securities, and accounting fields. Ms. Dea has held the position as CFO at several TSX, TSXV, CSE and ASX listed companies where she was responsible for corporate strategy, all aspects of finance and legal, debt and capital market activities, managing banking relationships with US, Canadian and International banks, internal and external public reporting, financial controls, processes, and corporate governance. Ms. Dea has been instrumental in helping several companies grow from the development stage to large-scale commercial operations. Previous to her time in industry, Ms. Dea spent eleven years at Deloitte & Touche LLP, achieving the position of Senior Manager. Ms. Dea obtained her Chartered Professional Accountants designation in 1997 and holds a Bachelor of Commerce from the University of British Columbia.

About Trees

Trees is a cannabis company at the intersection of community, content, and commerce. Publicly traded, Trees offers a differentiated retail experience, combined with digital platforms that aim to educate and amplify, unlocking emerging consumer segments and need states that allows Trees to uniquely engage the 360 cannabis consumer. The Company has 11 Trees branded storefronts in Canada, including seven (7) stores owned and operated in Ontario and four (4) stores operated in British Columbia, subject to the closing of the acquisition of the shares or assets of 101 pursuant to the terms of the second amended and restated asset purchase agreement (the “101 Purchase Agreement“) entered into between Trees and 101.  The closing of the transactions contemplated by the 101 Purchase Agreement is subject to certain conditions precedent, including the receipt of certain licensing approvals and related regulatory consents. 

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release.

Forward-looking statements in this document include, among others, statements relating to the Trees’ expectations regarding the Company’s ability to engage its customers and new consumer segments and need states, , the completion of the transactions contemplated in the 101 Purchase Agreement and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

The NEO Exchange has neither approved nor disapproved the contents of this press release and accepts no responsibility for the adequacy or accuracy of this release. 

SOURCE Trees Corporation

For further information: Trees Corporation, Jeffrey Holmgren, President and Chief Financial Officer, Email: jeffh@treescorp.ca