Trees Corporation announced, among other things, that it has entered into a definitive agreement with Miraculo Inc. ("Miraculo") pursuant to which Miraculo will amalgamate with 1000101203 Ontario Inc., a wholly-owned subsidiary of the Company, to form an amalgamated entity ("Amalco") in order to carry out a three-cornered amalgamation (the "Amalgamation") whereby Trees will acquire all of the issued and outstanding shares of Miraculo ("Miraculo Shares"). The Amalgamation Agreement includes the appointment of Michael Klein, CEO of Miraculo, as Chief Executive Officer, subject to the completion of the Amalgamation. Michael Klein is the CEO of Miraculo.

Mr. Klein has held executive leadership roles with several of the most iconic brands in the world including MTV, Condé Nast, Discovery Inc. and SundanceTV. The Company also announced the resignation of Jonathan Conquergood from his role as Chief Executive Officer of Trees effective immediately.