TREES CORPORATION ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT

TORONTO, Nov. 6, 2023 /CNW/ - Trees Corporation (CBOE: TREE) ("Trees" or the "Company"), announces, further to the Company's press release dated July 13, 2023, that 420 Investments Ltd. ("420") has unilaterally terminated the business combination agreement dated July 12, 2023, entered into between the Company and 420 (the "BCA"), effective as of November 2, 2023.The Company reserves all of its rights against 420 with regard to the unilateral termination by 420 of the BCA. The board of directors of the Company 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, but are not limited to, a merger or business combination with another party, an asset sale, a strategic partnership or any combination of the foregoing.  The Company does not intend to set a definite schedule to complete its evaluation process and cautions that there are no assurances or guarantees that the process will result in a transaction, or if a transaction is undertaken, terms or timing of such a transaction.

About Trees Corporation

Trees 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 allows Trees to uniquely engage the 360-cannabis consumer. The Company currently operates fourteen (14) Trees storefronts in Canada, including nine (9) stores in Ontario and five (5) stores operated in BC.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute "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. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

Forward-looking statements in this document include, among others, statements relating to the Company's ability to find alternative transactions 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. Such factors and risks include, among others: (a) the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; (b) compliance with extensive government regulation; (c) domestic and foreign laws and regulations could adversely affect the Company's business and results of operations; (d) the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company's securities, regardless of its operating peers; (e) adverse changes in the public perception of cannabis; (f) the impact of COVID-19; and (g) general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information  contained in this press release.

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 CBOE 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