General Cannabis (OTCQX: CANN)

General Cannabis is a Colorado-based company that provides services and solutions to the regulated cannabis industry. ACS leases medical marijuana grow space and other facilities, such as equipment and real estate, to business operators licensed to grow marijuana. ACS trades in the OTC market with the symbol CANN. It is based in Colorado Springs in Colorado, where medical use of marijuana was legalized in 2000 and was fully regulated in 2010.

Due to the legalization of marijuana for recreational use in Colorado and Washington, and medical marijuana laws in other states, marijuana usage has shown a strong potential to become a big business throughout the United States. This has led to increased demand for marijuana growing space. ACS is committed to helping meet this demand by buying property and leasing specialized real estate to marijuana growers and dispensaries for their production.

General Cannabis plans to provide a variety of ancillary services, advance logistic support, and regulatory compliance consulting to entrepreneurs in the cannabis industry. The company only provides solutions to the regulated cannabis industry, and does not engage in growing, harvesting, distributing, or selling marijuana or any substances that violate the Controlled Substance Act of the United States. ACS works exclusively with regulated and licensed business operators.

On December 31, 2013, Advanced Cannabis Solutions, Inc. closed on the purchase of a commercial marijuana grow facility in Pueblo County. The purchase of the 5,000 square foot grow facility in three acres of land represents the first asset acquisition of the company.

General Cannabis intends to leverage the extensive experience of its management team in serving the industry by providing ancillary products, real estate, and consulting. The company believes that cannabis industry’s strong national momentum will continue as more people appreciate the benefits of medical marijuana.

Yahoo! Finance: CANN News

Latest Financial News for CANN

General Cannabis Announces Sale of Greenhouse Office Building

General Cannabis Corp. announced today it has entered into a contract for the sale of its Greenhouse Office building in Denver, Colorado for $1,697,500. General Cannabis acquired the property in 2014 for $1,050,000. The closing is subject to customary conditions.

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General Cannabis Announces Record Revenues and 2019 Third Quarter Results

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