Trees Corp Merges with 420 Investments in Reverse Takeover

The combined company will list on Cboe Canada with a fresh ticker symbol.

Alberta-based 420 Investments Ltd. will go public via a reverse takeover of Toronto-based Trees Corp. (NEO: TREE), the companies said Wednesday.

The merger is subject to the approval of Cboe Canada, which was formerly known as the NEO Exchange.

Following the merger’s completion, the new company will be rebranded as “420 Investments Ltd.” or another name of 420’s choosing. Cboe Canada will list the newly consolidated company’s common shares under a fresh trading symbol, yet to be determined.

Prior to the agreement, directors, officers, and significant shareholders from both Trees and 420 signed support agreements, pledging to back the transaction at their respective shareholder meetings.

The merger between Trees and 420 will provide the combined company with “geographic diversity” and a fresh platform for growth, according to Scott Morrow, CEO of 420. He said in a statement that the cannabis retail industry is primed for consolidation.

“We are very excited to bring together FOUR20 and Trees,” Morrow said. “This new company will be in a great position to capitalize on these opportunities.”

Freida Butcher, chair of the board at 420, highlighted that company’s resilience and growth despite the pandemic, increasing its footprint from 14 stores in 2020 to 40 at present.

“We are very pleased to have found another retailer in Trees with the same values and with stores that will expand our brand in Ontario and allow us to take our first steps into B.C.,” she said.

She also noted that all significant long-term debt, barring what is tied up in litigation, will be converted to equity or eliminated following the merger’s closing, setting the company on a strong footing for future strategic growth.

Adam Jackson

Adam Jackson writes about the cannabis industry for the Green Market Report. He previously covered the Missouri Statehouse for the Columbia Missourian and has written for the Missouri Independent. He most recently covered retail, restaurants and other consumer companies for Bloomberg Business News. You can find him on Twitter at @adam_sjackson and email him at

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