Trees Corporation Completes 5-Store Acquisition and Launches First Drive-Through Cannabis Retail Service in Toronto
TORONTO, May 13, 2021 /CNW/ www.treescorp.ca - Trees Corporation ("TREES" or the "Company") is pleased to announce the closing of the acquisition of 5 retail cannabis stores in Ontario previously licensed under the name Metro Cannabis (the "Transaction"). Three of the acquired stores are open and will operate under the TREES Cannabis brand with the remaining 2 stores anticipated to open early this summer.
Newly acquired stores to operate as TREES CANNABIS:
- 1735 Kipling Ave, Etobicoke – (OPEN NOW)
- 76 St. Claire Ave W, Toronto – (OPEN NOW)
- 5485 Dundas St E, Etobicoke – (OPEN NOW) (Toronto's first drive-through)
- 3812A Bloor St, Etobicoke – (Summer 2021)
- 62 Overlea Blvd, Toronto – (Summer 2021)
TREES launches Toronto's first drive-through cannabis retail service
TREES is also pleased to announce the opening of Toronto's first convenient drive-through cannabis retail service at 5485 Dundas St E, Etobicoke. Customers can order online and easily pick up their order without leaving the comfort and security of their car. The speed and convenience of the service is unique in Toronto and has already proven to be widely popular among customers.
TREES on target for 23 operating locations by year end 2021
Inclusive of this Transaction, TREES holds a portfolio of 15 retail cannabis stores in Ontario, with 5 locations currently open and an additional 10 stores anticipated to open through the summer and early fall of 2021.
In British Columbia, the Company is awaiting provincial approval to close its previously announced acquisition of 8 stores (5 in Victoria, 2 in Nanaimo and 1 in Vancouver). With 3 stores currently operating, the next 2 scheduled to open later this month, and the remaining 3 scheduled to open this fall, the TREES Cannabis brand is quickly re-establishing itself in British Columbia and building on its prior legacy of respect and loyalty among the Vancouver Island cannabis community.
Upon closing of the acquisition of the British Columbia stores, the Company will own and soon operate 23 stores across Canada and anticipates further growth this year though organic store openings and strategic acquisitions.
About Trees Corporation
TREES Corporation is a privately owned and licensed retail cannabis company operating in Ontario and British Columbia. The TREES brand has a long and respected history originating on Vancouver Island and embodies an authentic consumer experience coupled with unmatched product knowledge and selection to satisfy both experienced and new-to-cannabis consumers alike. With one of the most experienced management teams in the industry, TREES is positioned to grow rapidly across both provinces to become a preeminent and widely recognized Canadian cannabis retailer.
SOURCE Trees Corporation
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