Company selects NEO to access wider investor base and enhanced liquidity
TORONTO–(BUSINESS WIRE)–$TREE #NEOExchange—NEO is proud to welcome Trees Corporation (“Trees” or the “Company”), a premier Canadian cannabis retailer, as they list today on the NEO Exchange. Trees is now available for trading on NEO under the symbol TREE.
Deeply rooted in the cannabis community, and serving as a respected voice of advocacy for cannabis legalization, there are ten Trees branded storefronts in Canada, including six stores owned and operated in Ontario by Trees, and four additional stores operated by 1015712 B.C. Ltd (“101”) in British Columbia.
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Through its trusted reputation, history, and passion for the ‘plant,’ Trees has set out to provide a differentiated and authentic consumer experience, unlike any other.
“We expect 2022 to be an exciting year, beginning with this public listing milestone and followed by a growth strategy aimed at securing Trees as a leading national cannabis retailer with a highly differentiated approach to serving the needs of cannabis consumers across the user profile spectrum,” stated Jon Conquergood, CEO of Trees.
“We are excited to be partnered with the NEO Exchange and we believe through its innovative and respected exchange platform, we will gain wider exposure to the investor community in both Canada and the U.S.,” added Jeff Holmgren, CFO. “Investors in this segment have become increasingly discerning and we believe Trees will demonstrate – through sound execution and prudent management – an ability to grow and achieve scale by capitalizing on the extensive and accretive growth opportunities prevalent in the market today.”
Today, Trees becomes the first company to make its public markets debut on the NEO Exchange in 2022, and joins NEO’s growing list of cannabis issuers. Investors can trade shares of Trees (NEO:TREE) through their usual investment channels, including discount brokerage platforms and full-service dealers.
“It’s a happy coincidence that our very first launch of the new year is for a cannabis company,” commented Jos Schmitt, President and CEO of NEO. “It’s an industry that was foundational to NEO’s success from the early days of our corporate listings business, along with fintech and biotech, and one which continues to grow as we expand across all verticals of the Innovation Economy including strategic minerals, cleantech, DeFi, and more. We are thrilled to welcome Trees to our roster of quality issuers and look forward to delivering tangible results and serving as a catalyst for their continued success.”
The NEO Exchange is home to almost 200 unique listings, including some of the most innovative Canadian and international growth companies, and ETFs from Canada’s largest ETF issuers. NEO consistently facilitates close to 15% of all Canadian trading volume. Click here for a complete view of all NEO-listed securities.
About the NEO Exchange
The NEO Exchange is Canada’s Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since June 2015, NEO puts investors first and provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
About Trees Corporation
Trees is an independent retail cannabis operator that is deeply rooted in the cannabis community and has been a respected voice of advocacy for cannabis legalization. Through its trusted reputation, history and passion for the ‘plant’, Trees delivers a unique and authentic consumer experience with 10 Trees branded storefronts in Canada, including six stores owned and operated in Ontario by Trees and four additional stores operated by 1015712 B.C. Ltd. (“101”) in British Columbia. Trees has agreed to purchase the 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.