DENVER, Sept. 10, 2021 (GLOBE NEWSWIRE) — General Cannabis Corp d/b/a TREES (OTCQB: CANN) (“TREES” or “the Company”) recently announced a corporate name change as a first step in its evolution towards the expansion of their vertically integrated model. Along with the name change, the Company is pleased to augment its executive management team with key appointments and promotions, expanding the current talented leadership team, as the Company progresses into its next stage of growth.
Jessica Bast has been promoted to Chief Financial Officer, effective September 6, 2021. Ms. Bast will succeed Diane Jones, who is stepping down from the CFO role to pursue other interests. We thank Diane for her time in helping achieve the critical milestone of closing the TREES Englewood transaction. Ms. Bast, who joined the Company in 2017, has more than 20 years of experience in audit, technical accounting and public company experience. Ms. Bast has previously served as the Company’s Corporate Controller and holds a CPA in the State of Colorado.
Tim Brown, founder and former CEO of TREES, will be appointed as Chief Visionary Officer in addition to his Board role and will help guide the strategic direction of the new organization, with an eye on organic and M&A growth opportunities.
The Company has further bolstered its executive team with the following appointments:
- Trevor Hoffman (co-Founder of TREES) has been appointed as President of Retail Operations and will continue to oversee all day-to-day operations of the current footprint in Colorado and Oregon, as well as future acquisitions.
- Jack Taylor has been promoted to Senior Vice President of Operations, with a focus on cultivation and processes.
- Amie Rakoczy (formerly Chief Accounting Officer of TREES) has been appointed VP of Administration.
- Mitch Seeman has been appointed Innovation Officer.
Adam Hershey, Interim CEO said, “Jessica has been an invaluable member of the team for the past several years, with a proven track record of strong financial leadership, timely reporting and compliance oversight of our accounting department. We are excited to recognize Jessica’s contribution with this promotion. Furthermore, I am thrilled to officially welcome Tim Brown and his talented team to the combined organization. Tim’s market vision and creativity has been integral in growing and operating meaningfully outperforming stores in Colorado and Oregon and will help lead us into the future.”
TREES is the parent company of a Colorado-based, vertically-integrated cannabis business pursuing a roll-up strategy of licensed assets in mature markets. TREES currently owns a 17,000 square foot light-deprivation greenhouse cultivation facility in Boulder, Colorado and a dispensary in Englewood, Colorado.
This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances. Although TREES believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, caution must be exercised in relying on forward-looking statements because TREES can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking statements. Such risks and uncertainties include, but are not limited to, current and future market conditions; the expected or potential impact of the COVID-19 pandemic on TREES’s business operations, financial results and position, as well as world economy and volatility, risks related to federal, state, local and foreign government laws, rules and regulations, including changes in the regulation of medical and recreational cannabis use; as well as those risks and uncertainties discussed from time to time in TREES’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q under the heading “Risk Factors” and in subsequent filings with the Securities and Exchange Commission. The statements in this press release are made as of the date of this release. TREES undertakes no duty to update any forward-looking statements made herein.