General Cannabis Corp. Announces Multi-Million Dollar Strategic Equity Investment
Summary
Shortly thereafter, the company closed its acquisition of Boulder, Colorado-based SevenFive Farm, a 17,000 square feet light deprivation greenhouse. Last week, General Cannabis was conditionally approved by the MED, subject to local approval, to close its next planned acquisitionPueblo, Colorado-based Cannasseur, a vertically integrated company that commenced operations in 2013 and operates a recreational retail dispensary, a 12,000 square foot light deprivation greenhouse and a manufacturing facility that produces Dabtek, a product line of infused concentrates. General Cannabis Next Big Crop division continues to operate as an industry leader in the application, design, buildout and operation of cultivation facilities, having worked with over 100 cultivation facilities across the country.Steve Gutterman, CEO of General Cannabis, said: This significant capital infusion is a powerful statement about our team, our strategy, the market opportunity and our ability to build shareholder value. We are excited to work with Adam Hershey to leverage the extraordinary market opportunity and competitive advantage offered by MED approval and build on the foundation of our SevenFive Farm acquisition and our planned closing of our Cannasseur agreement. Even in the midst of the tremendous headwinds facing our country and the economy, we believe we are as well-positioned as any company in the space to succeed, and this investment is a further demonstration of that.