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General Cannabis' SevenFive Farms Acquisition Provides In-Roads to Colorado - CFN Media

Newsfile Corp.
·5 mins read

Seattle, Washington--(Newsfile Corp. - February 6, 2020) - CFN Media (OTCQB: CNFN), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing General Cannabis and its latest acquisition.



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Colorado cannabis sales hit $1 billion in total cannabis-related revenue in 2019, becoming the first state in the country to hit that milestone five years after legalization. In addition, Colorado has the highest per-person spending on cannabis at $280 per year, which is significantly higher than the $220 and $130 annual spend in Washington State and Oregon, respectively.

General Cannabis Corp. (OTCQX: CANN) recently signed a purchase agreement to acquire SevenFive Farms, a cultivation facility in Boulder, Colorado, to expand its operations into the state, marking another step towards building a network of mature cannabis business across Colorado, California, and eventually, Oregon.

Click here to receive an investor deck and corporate updates

Building a Foundation

SevenFive Farms operates a 17,000 sq. ft. light deprivation greenhouse cultivation facility that has been in place for over four years. Boulder is strategically located along the Front Range where it has easy access to Denver, Colorado Springs, Fort Collins and other major metro markets, as well as an easy path to mountain towns that draw tourists.

General Cannabis expects to improve production at the facility to approximately 300 pounds of flower per month, which could generate over $5 million in annual revenue and $3 million in positive contribution towards EBITDA. The product will be sold primarily to the wholesale market until the company adds retail operations to its larger business.



https://www.generalcann.com/

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"This acquisition represents another step in executing our Cannabis 3.0 strategy," says CEO Steve Gutterman. "We are acquiring a proven, successful facility. We will deploy Next Big Crop, our cultivation consulting business, to improve production over existing levels. And we will use the production from the facility to supply dispensaries as we add them."

The all stock acquisition is pending approval from the Colorado state regulators (MED) and will close when the approval process is complete.

Click here to receive an investor deck and corporate updates

Cannabis 3.0 Approach

General Cannabis aims to capitalize on "second-mover advantage" by cherry-picking assets in mature markets and allocating capital efficiently and effectively to produce outsized returns. Rather than taking execution risk and starting from scratch, the company applies the expertise of its diverse team to find mature opportunities with lesser risk.

Prior to the purchase agreement with SevenFive Farms, the company announced a letter of intent to acquire Hälsa Holdings Inc., which has purchase agreements or letters of intent with three retail dispensaries in California. The acquisition will also add Chris Colón to the executive team, bringing a wealth of operational experience.

"We have painstakingly picked out marquee assets in California," said President Chris Colón. "The assets we have under contract are excellent revenue-producing stores with extraordinary possibilities for expansion."

Investors could see similar acquisitions over the coming quarters focused on mature opportunities in California, Colorado and Oregon where it can apply its expertise to expand revenue, improve profitability and ultimately add tangible EBITDA to its bottom line for shareholders.

Click the image to watch an exclusive interview with General Cannabis CEO Steve Gutterman and Hälsa Holdings CEO Chris Colón



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Click here to receive an investor deck and corporate updates

Looking Ahead

With the pending Hälsa and SevenFive Farm acquisitions, General Cannabis Corp. (OTCQX: CANN) is executing on the Cannabis 3.0 strategy. The company is focusing on profitability and smart growth, and investors may want to take a closer look at the stock over the coming quarters as it grows its operational footprint in key U.S. markets.

For more information, visit the company's website or sign up to download their investor presentation and receive corporate updates.

Click here to receive an investor deck and corporate updates

Click here to read the full article: https://www.cannabisfn.com/general-cannabis-sevenfive-farms-acquisition-provides-in-roads-to-colorado/

General Cannabis Company Contact
CEO Steve Gutterman
sgutterman@generalcann.com

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About CFN Media

CFN Enterprises Inc. (OTCQB: CNFN) is the owner and operator of CFN Media, the leading agency and digital financial media network dedicated to the legal cannabis industry.

For Visitors and Viewers

CFN Media's Cannabis Financial Network (CannabisFN.com) is the destination for savvy investors and business people profiting from the worldwide cannabis industry. Viewers will see breaking news, exclusive content and original programming involving the people, companies and investments shaping the industry.

For Cannabis Businesses & Companies

CFN Media is a leading agency and financial media network dedicated to the cannabis industry. We help private, pre-public and public cannabis companies in the US and Canada attract capital, investors and media attention.

Our powerful digital media and distribution platform conveys a company's message and value proposition directly to accredited and retail investors and national media active in the North American cannabis markets.

Since 2013, CFN Media has enabled the world's preeminent cannabis companies to thrive in the capital and public markets.

Learn how to become a CFN Media client company, brand or entrepreneur: https://www.cannabisfn.com/become-featured-company/

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52191