0001398432-17-000088.txt : 20170613 0001398432-17-000088.hdr.sgml : 20170613 20170613172547 ACCESSION NUMBER: 0001398432-17-000088 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170609 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170613 DATE AS OF CHANGE: 20170613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL CANNABIS CORP CENTRAL INDEX KEY: 0001477009 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-DETECTIVE, GUARD & ARMORED CAR SERVICES [7381] IRS NUMBER: 208096131 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-54457 FILM NUMBER: 17909705 BUSINESS ADDRESS: STREET 1: 6565 EAST EVANS AVENUE CITY: DENVER STATE: CO ZIP: 80224 BUSINESS PHONE: (719) 748-5603 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 8-K 1 a14007.htm FORM 8-K 8-K



UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549


                                        


FORM 8-K

                                        


CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): June 9, 2017


GENERAL CANNABIS CORP.

 (Exact Name of Registrant as Specified in Charter)


Colorado

000-54457

90-1072649

(State or other jurisdiction

of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)


6565 E. Evans Avenue
Denver, Colorado

 

80224

(Address of principal executive offices)

 

(Zip Code)


Registrant’s telephone number, including area code: (303) 759-1300


(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:


[_]

Written communications pursuant to Rule 425 under the Securities Act

[_]

Soliciting material pursuant to Rule 14a-12 under the Exchange Act

[_]

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

[_]

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act




Item 7.01

Regulation FD Disclosure.


On June 9, 2017, the Company issued a press release announcing its acquisition of GC Finance, LLC. A copy of the press release is furnished hereto as Exhibit 99.1.


The information contained in this Item 7.01 of the Company’s Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.  The furnishing of the information in this Current Report on Form 8-K is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information contained in this Current Report on Form 8-K constitutes material investor information that is not otherwise publicly available.


The Securities and Exchange Commission encourages registrants to disclose forward-looking information so that investors can better understand the future prospects of a registrant and make informed investment decisions. This Current Report on Form 8-K and exhibits may contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and which involve risks, uncertainties and reflect the Registrant’s judgment as of the date of this Current Report on Form 8-K. Forward-looking statements may relate to, among other things, operating results and are indicated by words or phrases such as “expects,” “should,” “will,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this Current Report on Form 8-K. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented within.


Item 9.01

Financial Statements and Exhibits.


(d)     Exhibits.


The exhibit listed in the following Exhibit Index is filed as part of this Current Report on Form 8-K.


Exhibit No.

 

Description

99.1

 

Press release dated June 9, 2017



SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Dated: June 13, 2017



 

GENERAL CANNABIS CORP

 

 

 

 

 

 

 

By:

/s/ Robert L. Frichtel

 

Name:

Robert L. Frichtel

 

Title:

Chief Executive Officer





EXHIBIT INDEX


Exhibit No.

 

Description

99.1

 

Press release dated June 9, 2017








 EX-99.1 2 exh99_01.htm PRESS RELEASE DATED JUNE 9, 2017 Exhibit 99.1

Exhibit 99.1


General Cannabis Corp Announces its Acquisition of GC Finance Arizona, LLC


Denver-June 9, 2017 - General Cannabis Corp (OTCQB:CANN) announced today the acquisition of GC Finance Arizona, LLC (“GC Arizona”) from Infinity Capital West, LLC (“Infinity Capital”).  GC Arizona owns two primary assets:  1) a 50% LLC membership interest in DB Products Arizona, LLC (“DB Arizona”) and 2) a secured promissory note with DB Arizona in the amount of $825,000, plus accrued interest.  General Cannabis paid $106,001 for the acquisition of GC Arizona.  Infinity Capital is owned by General Cannabis’ chairman of the board, Michael Feinsod.


DB Arizona produces and distributes medical marijuana infused products in the state of Arizona.  The vast majority of DB Arizona’s products to date have been Dixie Brands Inc.’s full line of medical cannabis “Dixie Elixirs and Edibles.”  DB Arizona began production in the fourth quarter of 2016.  During the first quarter of 2017, gross revenues for DB Arizona were approximately $194,000.  DB Arizona has significant excess production capacity at its 14,000 square foot state of the art commercial kitchen and infused products manufacturing facility.


“We are excited to announce the purchase of GC Finance Arizona, LLC.  We look forward to working with our partners to introduce and produce the highest quality infused products for the medical marijuana industry in the state of Arizona.” said Michael Feinsod.  “Closing on this milestone expands our public company platform and further diversifies our revenue stream, which will create significant shareholder value.”


About General Cannabis Corp

General Cannabis Corp is the comprehensive resource for the highest quality services available to the regulated cannabis industry. We are a trusted partner to the cultivation, production and retail sides of the cannabis business. We do this through a combination of strong operating divisions such as security, marketing, operational consulting and products, real estate and financing. As a synergistic holding company, our divisions are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed. General Cannabis now operates in Arizona, Arkansas, California, Colorado, Maryland, Massachusetts, Nevada, New York,  Oregon, Pennsylvania, Vermont, and Washington. Our website address is www.generalcann.com.


Forward-looking Statements

This release contains forward-looking statements that relate to future events or General Cannabis' future performance or financial condition. Such statements include statements regarding the benefits to General Cannabis of its acquisition of GC Finance Arizona, LLC. Any statements that are not statements of historical fact, such as the statements above and including statements containing the words "plans," "anticipates," "expects" and similar expressions, should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as result of a number of factors, including those described from time to time in General Cannabis' filings with the Securities and Exchange Commission. General Cannabis undertakes no duty to update any forward-looking statements made herein.