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General Cannabis Corp (CANN)

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0.4960+0.0060 (+1.21%)
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Previous Close0.4900
Open0.5062
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.4600 - 0.5200
52 Week Range0.2600 - 0.7520
Volume294,661
Avg. Volume224,165
Market Cap29.677M
Beta (5Y Monthly)0.62
PE Ratio (TTM)N/A
EPS (TTM)-0.2550
Earnings DateJul 06, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • GlobeNewswire

    General Cannabis Corp Announces New Chief Financial Officer; Appoints Board Members and Chairman

    DENVER, Sept. 14, 2020 (GLOBE NEWSWIRE) -- General Cannabis Corp (OTCQB: CANN) announced today it has named Diane Jones as Chief Financial Officer. Jones brings deep experience in accounting and financial planning and has held key executive positions at publicly-held companies. She becomes a member of the Company’s senior management team as it expands its operations within Colorado and maintains a continued focus on creating and driving shareholder value across its business. Prior to joining General Cannabis Corp, Ms. Jones served as Corporate Controller for the Americas at Cardino. Before that, she was Worldwide Controller and Senior Director of Shared Financial Services at Arrow Electronics and earlier served as Assistant Corporate Controller at Ball Corporation. She began her career as a CPA with Ernst & Young. Ms. Jones has taught accounting as an adjunct professor at the Daniels College of Business at the University of Denver and received a BBA from Texas A&M and and MBA from the University of Houston.Steve Gutterman, CEO of General Cannabis Corp and a member of its Board of Directors said: “We’re fortunate to add a CFO of Diane’s deep functional expertise, skills, and technical knowledge in all aspects of corporate finance and accounting. She’s worked across multiple industries, within public companies, and in all sized environments, which will be critical for us as we continue to grow our business, pursue M&A targets and add additional strategic capital needed to fund our growth objectives. As we do so, we will be diligent in our commitment to ensuring that our controls and accounting meet or exceed best practices.  Diane will be central to those efforts.”General Cannabis Corp also announced today a change in the composition of its Board of Directors, as its three independent Directors—Peter Boockvar, Mark Green and Seth Oster—have decided to step down after nearly a decade of collective service on the Board. Said Adam Hershey, Board member and shareholder: “We are appreciative of the many contributions Peter, Mark and Seth have made. They have been invaluable to the growth and development of General Cannabis, helping guide the company through challenging periods and working to protect shareholder interests.  We are grateful to them."The Board has elected Carl Williams, Richard Travia and Barker Dalton to replace Boockvar, Green and Oster. Williams, who will become Chairman of the Board and an independent director, has extensive company building experience, having lead private and public companies for over 30 years.  Travia, who will join as an inpedendent director, brings an extensive background in finance and investment management within private and public companies.  Dalton, who will join as a director, has built an expansive reputation within the cannabis industry as Founder and Managing Director of SevenFive Farm, Boulder County’s first purpose-built cannabis greenhouse facility, which General Cannabis Corp acquired in May 2020 in an equity deal that established Dalton as one of the company’s largest shareholders.Said Gutterman, “Our new Board members are well-suited to support management, oversee corporate governance, and add shareholder value. Carl is a seasoned operator and leader who will provide significant mentorship in his role as Chairman of the Board.  Richard’s knowledge about the cannabis capital markets will help us grow; and Barker has been a fantastic partner ever since we acquired SevenFive, and his knowledge about the Colorado cannabis market is extensive. We are fortunate to have them helping lead us forward.”Over the past several months, General Cannabis Corp has continued to establish itself as a leader among Colorado cannabis businesses. It has refined its business strategy to focus on acquiring and operating licensed cannabis facilities throughout the state—transitioning out of unprofitable business lines and investing resources in support of an M&A strategy that led to its successful acquisition this past May of SevenFive Farm. The Company continues to enjoy strong performance from its Next Big Crop cultivation consulting business. In May, General Cannabis Corp became one of the only publicly-held cannabis companies to receive regulatory approval from the State of Colorado, authorizing it to acquire licensed cannabis facilities. And the Company received a significant capital infusion from Hershey Strategic Capital and Shore Ventures III totaling $3 million in equity capital to grow the business and enhance enterprise value.Additional background on the new members of General Cannabis Corp’s Board of Directors:Carl Williams Mr. Williams’ career in financial services includes several high profile industry positions. He was the Chairman and CEO of Planet Payment (Nasdaq: PLPM), a company that processes merchant payments internationally.  Williams led the sale of Planet Payment to the Fintrax Group, a leader in payment processing. Previously he was President of World Wide Payment Processing for Global Payments (NYSE: GPN). He also served as President of the Merchant Services Division of National Processing Company, a processor of credit card, debit and check transactions.  He holds a BA from La Salle University in Philadelphia.Richard Travia Mr. Travia is an experienced cannabis investor and company builder who founded Wildcat Advisory Group and Wildcat Investment Management. Wildcat Advisory Group is a diversified business and investment consultant that advises small and medium size public and private companies, institutional investors such as family offices, private equity funds and hedge funds, and institutional-quality service providers. Wildcat Investment Management provides investment management services. Prior to launching Wildcat, Richard co-founded Tradex Global Advisors and Tradex Global Advisory Services. While at Tradex, Richard served as the COO and Compliance Officer of the firm, Director of Research for the fund of hedge funds business and Head of Risk Management for the single hedge fund business  Richard graduated from Villanova University with a Bachelor's Degree in Economics.Barker Dalton Mr. Dalton is the Founder and Managing Director at SevenFive Farm, Boulder County’s first purpose-built cannabis greenhouse facility.  He has over a decade of experience in the cannabis industry.  Mr. Dalton built SevenFive Farm from the ground up, overseeing all elements of the business from construction to cultivation to sales.  Under his stewardship, SevenFive Farm has become a leading supplier of wholesale cannabis products, known for quality and consistency.  Mr Dalton created SevenFive after living for five years in Costa Rica, working in sustainable development. His focus was on site study, master design and material sourcing.  Prior to working in Costa Rica, Mr Dalton gained significant retail experience as the co-owner of Robb’s Music.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 Corp 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 Corp 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 Corp, 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 Corp’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 Corp undertakes no duty to update any forward-looking statements made herein.Contact: Steve Gutterman sgutterman@generalcann.com

  • GlobeNewswire

    General Cannabis Corp. Closes Hershey Transaction

    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 sgutterman@generalcann.com

  • Cannabis Mover & Shakers: General Cannabis, SierraConstellation, RWB, Clarmin Explorations
    Benzinga

    Cannabis Mover & Shakers: General Cannabis, SierraConstellation, RWB, Clarmin Explorations

    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.