Toronto Cannabis Co. Trees Seeks Creditor Protection, Here's What You Need To Know
Portfolio Pulse from Jelena Martinovic
Trees Corporation (CBOE: TREE), a Toronto-based cannabis company, has received creditor protection under the CCAA from the Ontario Superior Court of Justice. The protection includes its subsidiaries and appoints Ernst & Young Inc. as the monitor. The company is pursuing additional financing and strategic options, including a failed business combination agreement with 420 Investments Ltd. Cboe Canada is expected to review TREE for potential delisting. Meanwhile, Benzinga PotProfits highlights the potential growth in cannabis stocks, with Michael Berger identifying promising stocks.
December 26, 2023 | 11:00 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Trees Corporation has been granted creditor protection and is under delisting review by Cboe Canada following a failed merger with 420 Investments Ltd.
The creditor protection and failed merger indicate financial distress and operational challenges for Trees Corporation, which are negative signals for investors. The potential delisting review by Cboe Canada further adds to the uncertainty and could negatively impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100