Advanced Cannabis Solutions, Inc. or ACS is a development stage company that provides the cannabis industry across the U.S. with an extensive range of services and solutions pertaining to real estate. It leases adequate growing space, and other related facilities and equipment to licensed business operators. This fully reporting public company, founded in 2013, trades in the OTC market under the symbol CANN.
ACS is based in Colorado Springs, Colorado, where medical marijuana became legal in 2000 and was fully regulated in 2010. The legalization of medical marijuana in more than 20 states across the country, as well as the legalization of recreational marijuana in Washington and Colorado, shows the potentially widespread usage of marijuana throughout the country.
According to the ACS President and CEO Robert Frichtel, the company’s business model is qualified to provide solutions to several of the difficulties faced by marijuana growers and retailers in terms of finding ample commercial real estate and funding for their expansion.
As more companies take advantage of the business opportunities available and are in search of growing space, ACS commits to meet this need by purchasing property and leasing them to marijuana growers and dispensary owners for their production needs.
Advanced Cannabis Solutions, Inc. also seeks to provide the cannabis industry with ancillary products and services, including commissioned plant nutrient lines, advanced logistical support, and regulatory compliance consulting to budding entrepreneurs.
It is important to note that ACS does not violate the Controlled Substance Act of the United States by growing, harvesting, selling or distributing marijuana or other substances, as it provides solutions exclusively to licensed business operators part of the regulated cannabis industry.
In December 2013, ACS closed the purchase of a 5,000-square foot growing facility in Pueblo County across three acres of land. This commercial marijuana grow facility was the company’s first asset acquisition.
The company aims to serve the cannabis industry by utilizing its experienced management team and providing services in the form of real estate, ancillary products, and consulting. ACS recognizes that the industry’s momentum is currently strong nationwide, and believes that this momentum will continue as more and more individuals learn to appreciate the benefits of medical marijuana.
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DENVER, July 30, 2020 (GLOBE NEWSWIRE) -- General Cannabis Corp. (OTCQB: CANN), a leading publicly traded Colorado cannabis company, announced today that it has closed the final tranche of the investment by Hershey Strategic Capital, LP and Shore Ventures III, LP (the “Investors”). The Investors funded $815,000 to bring total funding to $3,000,000 on terms previously announced by the Company. Concurrently, the Company announced that the Colorado Marijuana Enforcement Division has approved Adam Hershey as a member of the Company’s board of directors. About General Cannabis Corp General Cannabis Corp offers a comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. The Company is a trusted partner to the cultivation, production and retail sides of the cannabis business. The Company's website address is www.generalcann.com.Forward-looking Statements This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances. Although General Cannabis believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, caution must be exercised in relying on forward-looking statements because General Cannabis can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking statements. Such risks and uncertainties include, but are not limited to, current and future market conditions; the impact of the COVID-19 pandemic on General Cannabis, risks related to federal, state, local and foreign government laws, rules and regulations, including changes in the regulation of medical and recreational cannabis use; as well as those risks and uncertainties discussed from time to time in General Cannabis’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q under the heading “Risk Factors” and in subsequent filings with the Securities and Exchange Commission. The statements in this press release are made as of the date of this release. General Cannabis undertakes no duty to update any forward-looking statements made herein.Contact: Steve Gutterman email@example.com
As we wrap up another busy week, Benzinga collects the latest leadership changes in the cannabis industry.General Cannabis Taps Adam Hershey To Its BoardGeneral Cannabis Corp. (OTCQB: CANN) announced that Adam Hershey will replace Michael Feinsod on the board of directors.Feinsod resigned from the board on July 9.Hershey brings more than 25 years of experience in investing. He led an equity investment round for GCC in May and June totaling $3 million in strategic growth capital. He is now the company's largest strategic investor.Hershey is also a managing partner and portfolio manager of Hershey Strategic Capital LP, a firm he founded in July 2009.SierraConstellation Appoints Nevin Shetty And OthersSierraConstellation Partners LLC promoted three senior professionals: Curt Kroll, Miles Staglik, and Tim Bossidy.The Los Angeles-based company also appointed Nevin Shetty to Managing Director in Seattle.SierraConstellation's CPO Rebecca Waits said they "pride ourselves on developing great talent," calling it "a key component" to the company's nationwide growth strategy.Kroll, who has been promoted to Managing Director, brings years of experience in industrial manufacturing, retail, real estate, financial services, and healthcare industries. During his career, Kroll has been handling refinancing, interim management, distressed acquisitions, and in- and out-of-court restructurings.Prior to joining SCP, he served as CFO and CIO at Katy Industries Inc.Staglik gained experience working in several industries, including apparel, aerospace, consumer goods, distribution and retail industry. The company promoted Staglik to a senior director.His prior experience also includes providing operational and financial restructuring and advisory services to companies that are in transition or are underperforming.Miles served at Prime Focus World N.V., as the director of corporate finance. He also worked at Cantor Fitzgerald as an associate in the gaming, lodging and leisure group.Bossidy, who joined SierraConstellation in 2018, has been promoted to senior director. He previously worked at investment bank Goldman Sachs Group (NYSE: GS). Prior to that, he worked at Travelers, an insurance company."Curt, Miles, and Tim's promotions speak to their dedication to our culture and exemplary mentorship, and we look forward to seeing them continue to grow and work with the next generation of talent at SCP," Waits added.Shetty has honed his alternative investment management and digital transformation skills while working at David's Brida as Chief Partnerships Officer and Blueprint Registry as CEO."We had the pleasure of working with Nevin during his time with David's Bridal, and when we saw the opportunity to bring him on to the team in Seattle, we knew it would be a perfect fit," said SCP CEO Larry Perkins.RWB Hires Steven GrassoRed White & Bloom Brands Inc. (CSE: RWB) (OTC: RWBYF), which began trading on OTCQX Best Market last month, hired Steven Grasso as its Business Advisor.Grasso, a CNBC market analyst featured in the "Fast Money" show, commenced his career at New York Stock Exchange in 1993.He worked as an institutional sales trader at Stuart Frankel & Co. as an institutional sales trader and subsequently as Director of Institutional SalesIn addition, he has vast experience in working with a mutual, pension, and hedge funds as well as insurance companies.During his 27-year career, Grasso took part in several Stock Exchange committees.RWB's CEO Brad Rogers said Grasso's experience in the financial markets coupled with his relationships in the Healthcare and Life Sciences industries "will be a great asset" to RWB as it moves forward with expansion plans.Clarmin Explorations Announces Resulting Issuer's Management Team And Board Canadian mining company Clarmin Explorations Inc. (TSX.V: CX), which entered an amalgamation deal with psilocybin and fungi company Cybin Corp. earlier this month, announced the proposed management team and board of directors of the resulting issuer.The list of executive officers and directors of the issuer includes: * Paul Glavine, Cybin's co-founder, and CEO, who will serve as Director and CEO * Eric So, Cybin's co-founder and president, who will serve as Director and president * John Kanakis, Cybin's co-founder and senior vice president of business development, who will serve as director and senior vice president of business development * Greg Cavers who will serve as CFO, having over 20 years of finance experience * Jukka Karjalainen, the former Director of Medical and Regulatory Affairs, Corporate Vice President at Biovail Pharmaceuticals, and the former Medical Director at Eli Lilly and Company, who will serve as Chief Medical Officer * Eric Hoskins, a former Ontario Health Minister, will serve as director * Grant Froese, who will serve as director, having over 38 years of experience at Canada's largest food retailer -Loblaw Companies Limited- * Sara Brittany Somerset will serve as Chief Communications Officer, having more than ten years of as a United Nations-based cannabis correspondent and a global drug policy analyst * Jackie Poriadjian, who will serve as Chief Marketing Officer. HE oversaw international distribution and global brand marketing at Ultimate Fighting Championship.See more from Benzinga * Equifund CFP To Help Raise Funds For Cannabis Delivery Service * MediPharm Labs Joins Blockchain Project To Track Medical Cannabis * Illinois Makes M In Marijuana Tax Revenue In First Six Months Of Sales(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
DENVER, July 14, 2020 -- General Cannabis Corp. (OTCQB: CANN), a leading publicly traded Colorado cannabis company, announced today that Adam Hershey, the company’s largest.
General Cannabis Corp. (CANN), the leading publicly traded Colorado cannabis company, announced today that it has reached an agreement that will bring up to $3 million in strategic growth capital to the company. The investment will be funded by Hershey Strategic Capital LP and Shore Ventures III, LP, entities led by managing member Adam Hershey.
General Cannabis Corp (CANN), a company with extensive experience in providing services to the cannabis industry, announced today that the State of Colorado’s Marijuana Enforcement Division (the “MED”) has granted it regulatory approval to complete the acquisition of Cannasseur, subject to approval by local regulators. Cannasseur is a vertically integrated Colorado licensee with a recreational dispensary, an oil extraction facility, and a 12,000 square foot light deprivation greenhouse cultivation facility in Pueblo West, Colorado.