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: …