General Cannabis is Growing and Expanding with the Cannabis Market, Analyst Review
NEW YORK, NY / ACCESSWIRE / April 25, 2018 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on General Cannabis Corp. (CANN), a company focused on providing lease growing space and similar facilities to accredited marijuana operating companies.
General Cannabis is a Denver-based company and offers a variety of products and services to companies in the sector. Its integrated solutions range from operational and compliance to security, marketing, and financing needs. The company operates through a number of subsidiaries including Chiefton Supply, Next Big Corp, Iron Protection all of which have stakes in the multi-billion cannabis industry.
In the past 52 weeks, shares of CANN have traded as low as $1.08 and as high as $11.19
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On April 20, 2018 the company announced the closing of a private placement transaction with various private parties including existing and new investors in General Cannabis. The Company issued $5.54 million of senior secured promissory notes and an aggregate of 4,432,000 warrants to purchase common stock at the closing. The notes bear interest at 8.5% per annum and are secured by all of the Company's assets. The warrants have an exercise price of $2.35 per share. The proceeds of this debt raise will be used primarily to fund the Company's expansion and for working capital.
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