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