0001415889-21-002050.txt : 20210421 0001415889-21-002050.hdr.sgml : 20210421 20210421164604 ACCESSION NUMBER: 0001415889-21-002050 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210420 FILED AS OF DATE: 20210421 DATE AS OF CHANGE: 20210421 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: GUTTERMAN STEVEN D. CENTRAL INDEX KEY: 0001430007 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-54457 FILM NUMBER: 21842069 MAIL ADDRESS: STREET 1: C/O SOLERA NATIONAL BANCORP, INC. STREET 2: 319 S. SHERIDAN BLVD. CITY: LAKEWOOD STATE: CO ZIP: 80226 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL CANNABIS CORP CENTRAL INDEX KEY: 0001477009 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 208096131 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 6565 EAST EVANS AVENUE CITY: DENVER STATE: CO ZIP: 80224 BUSINESS PHONE: 303-759-1300 MAIL ADDRESS: STREET 1: 6565 EAST EVANS AVENUE CITY: DENVER STATE: CO ZIP: 80224 FORMER COMPANY: FORMER CONFORMED NAME: Advanced Cannabis Solutions, Inc. DATE OF NAME CHANGE: 20131023 FORMER COMPANY: FORMER CONFORMED NAME: Promap Corp DATE OF NAME CHANGE: 20091117 4 1 form4-04212021_010450.xml X0306 4 2021-04-20 0001477009 GENERAL CANNABIS CORP CANN 0001430007 GUTTERMAN STEVEN D. C/O GENERAL CANNABIS CORP 6565 EAST EVANS AVENUE DENVER CO 80224 true true false false CHIEF EXECUTIVE OFFICER Senior Convertible Promissory Note 0.65 2021-04-21 4 P 0 7693 A 2021-04-21 2024-04-21 Common stock 7693 7693 D Warrants 0.56 2021-04-21 4 P 0 3715 A 2021-04-21 2026-04-21 Common stock 3715 3715 D Pursuant to a Securities Purchase Agreement ("SPA") entered into on April 20, 2021 by the Reporting Person and the Issuer, each Senior Convertible Promissory Note (the "Note") accrues interest at a rate of 10% per annum. The Reporting Person purchased a Note in the principal amount of $10,000 and has the option to convert up to 50% of the outstanding unpaid principal and accrued interest of the Note into the Issuer's Common Stock at a variable price of 80% of the market price but no less than $0.65 per share and no more than $1.00 per share. In connection with the SPA, the Reporting Person also received Warrants to purchase the number of shares of the Issuer's Common Stock equal to 20% of the principal amount of the Note divided by the exercise price of $0.56. /s/ Steven Gutterman 2021-04-21