CANN Stock Recent News

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.

Canadian cannabis seller Trees Corporation (NEO:TREE.AQN) has unveiled record quarterly financial results, for the period ending June 30, 2023. It reported, in a statement on Friday, an all-time high revenue of C$4.05 million, marking a 106% increase from the same period in 2022 and a 47% surge from the preceding quarter.

Trees Corporation (NEO:TREE.AQN) said it has entered into an agreement with Calgary-based retail cannabis business 420 Investments to amalgamate through a reverse takeover of the company by 420 (FOUR20).  "We are very pleased to have navigated towards a partner in FOUR20 where together we will be well positioned to leverage our exceptional retail team, national presence and strong balance sheet towards the creation of significant shareholder value for both Trees and FOUR20 shareholders alike,” Trees CFO Jeff Holmgren said.

Trees Corporation (NEO:TREE.AQN) has reported corporate retail sales of $11.5 million during the 15-month period ending on March 31, 2023, with system-wide sales reaching $16.6 million. Notably, the company said there was 20% growth in corporate same-store retail sales for the three months leading up to March 31, 2023, compared to the same period in 2022.

Trees Corporation (NEO:TREE.AQN) said it has closed a financing round to fund the opening of its next cannabis store location. The non-brokered private placement consisted of 745 units at a price of $1,000 per unit for gross proceeds of approximately $745,000.

Trees Corporation (NEO:TREE.AQN) has announced record third-quarter 2022 sales and system-wide sales of $2.5 million and $3.7 million, respectively, along with 40% year-over-year growth in same-store corporate sales. The Canadian cannabis company said it has increased revenues in the quarter by 60% from the first quarter of 2022, while its total gross profit rose 78% over the same period due to a strengthening retail gross profit margin percentage, which averaged 32% in 3Q compared to 28% in the first quarter of 2022.

Trees Corporation (NEO:TREE.AQN) has announced that it is now provincially licensed to operate in British Columbia, having received due diligence approval from the British Columbia Liquor and Cannabis Regulation Branch.  The Canadian cannabis company said it will now begin with the closing of its previously-announced acquisition of five stores on Vancouver Island pursuant to the terms of the third amended and restated asset purchase agreement between Trees and 1015712 BC Ltd (the APA).

Trees Corporation (NEO:TREE.AQN) announced that it recorded system-wide sales of $1.9 million in June, which represents a roughly 25% increase in monthly same-store sales since the beginning of the year. "Robust sales growth has exceeded our expectations in the second quarter of 2022 and we are encouraged to see a continuing trend as we move through the early weeks of summer,” CEO Michael Klein said in a statement.