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 Richard Cardinal Promoted to Vice President

General Cannabis Corp (CANN), the comprehensive resource for the highest quality service providers available to the regulated cannabis industry, announced the promotion of Richard Cardinal to Vice President.  In support of a growth plan to acquire licensed marijuana cultivators and retailers across the country, Cardinal will have expanded responsibilities going forward. "After four years of successfully growing our Next Big Crop division, promoting Rich to this new position is a natural.  Rich and his team have successfully helped cultivate thousands of pounds of cannabis over the past few years," said General Cannabis' Chairman and CEO Michael Feinsod. As General Cannabis continues to execute on our plan to own and operate leading cannabis cultivation, infused-products manufacturing and dispensing businesses across the country, I look forward to overseeing these future operations, and to leveraging the economies of scale and operational data that will be realized through our model,” noted Richard Cardinal.

General Cannabis Announce Entry into Term Sheet For Strategic Acquisition

General Cannabis Corp (CANN) (the “Company”), the comprehensive national resource to the regulated cannabis industry, today announced that it has entered into a non-binding term sheet to acquire substantially all of the assets of The Organic Seed, LLC, doing business as Cannaseur (“Cannaseur”).  Cannaseur is a vertically integrated cannabis license holder located in Pueblo West, Colorado.  In addition to the Cannaseur dispensary and cultivation facility, the term sheet also includes their infused products line, Dabtek. General Cannabis is taking this action based on the signing of Colorado House Bill 1090 (“HB-1090”), a recently approved law allowing public companies to own Colorado licensed cannabis companies.  Once the regulations surrounding the implementation of the law are finalized, the Company plans to enter into a binding transaction.

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General Cannabis Corp Prices $3,000,000 Registered Direct Offering

GENERAL CANNABIS CORP (OTCQX: CANN) (“General Cannabis” or the “Company”), the comprehensive national resource to the regulated cannabis industry, today announced it has entered into definitive agreements with investors for the purchase and sale of (i) 3,000,000 shares of common stock, par value $0.001 per share, and (ii) warrants to purchase up to 3,000,000 shares of common stock at a combined offering price of $1.00 per share, pursuant to a registered direct offering. The Company intends to use the net proceeds for general corporate purposes, which may include, among other things, product development, acquisitions, capital expenditures, repayment of existing indebtedness and other business opportunities. This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-222907) previously filed with the U.S. Securities and Exchange Commission (the “SEC”), on February 7, 2018, and declared effective on February 12, 2018.

Cannabis Stocks Fall: General Cannabis Up 3.8%; Tilray Off 4.1%

Cannabis stocks and exchange-traded funds fell Friday. Among cannabis stocks tracked by TheStreet, two rose while nine fell. General Cannabis shares rose 6 cents, or 3.77%, to $1.65. Tilray shares fell $1.