TREES CORPORATION (OTCQB: CANN) closed a $13.5 million senior secured convertible note offering. The notes will bear interest at an annual rate of 12% and will mature on September 16, 2026.

Investors have the option to convert up to 50% of the outstanding notes into TREES common stock at a fixed conversion price equal to $1.00 per share, a significant premium to the current market price. The proceeds will be used to fund capital expenditures and fuel the company’s plans for near-term acquisitions in the Colorado market.

While the equity markets for U.S. MSOs and single state operators have been challenged, it …

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