General Cannabis: General Cannabis To Purchase Trees For $39.5M; Changes Name, Stregntens Retail Footprint

General Cannabis Corp (OTCQB: CANN) is poised to acquire cannabis retailer Trees. Transaction Details: The Colorado-based company agreed to purchase Trees for roughly $39.5 million, with 13% of the sum to be paid in cash over the next two years. The remaining 87% of the purchase price will be paid in General Cannabis common stock. The company opted to issue 38,745,193 shares to Trees shareholders at $0.89 per share. In order to fund the acquisition, General Cannabis extended its convertible debt round by $2.3 million to $6.9 million. Why It Matters: ...Full story available on Benzinga.com