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Saturday, November 26, 2022

General Cannabis Corp (OTCMKTS: CANN) On a Fast Rise

General Cannabis Corp (OTCMKTS: CANN) has been running up the charts in recent weeks since reversing off $0.46 lows. CANN has a long history of huge moves running from well under $2 to $11.19 a share at the end of last year.

On January 7 CANN announced the retirement of its CEO Robert Frichtel. He will remain a member of the Board of Directors. The Board of Directors has engaged an executive search firm to find his replacement. Michael Feinsod, the Chairman of General Cannabis since 2014, will be the interim CEO. The Company said they have embarked on a search for a new CEO.

General Cannabis Corp is the comprehensive national resource for the highest quality service providers 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.

CANN provides advanced security, including on-site professionals and cash transport, to licensed cannabis cultivators, cannabis processing facilities and retail shops, under the business name Iron Protection Group (“IPG”) in California and Colorado, and security services to non-cannabis customers in Colorado, such as hotels, apartment buildings and retail, under the business name Mile High Protection Services (“MHPS”). CANN strategically acquired MHPS in order to expand their Colorado security business into the non-cannabis space, as we believe that market provides an opportunity for growth.

CANN wholly owned subsidiary, Chiefton Supply, strives to create innovative, unique t-shirts, hats, hoodies and accessories. Our apparel is sold through our on-line shop, festivals and events, cannabis retailers, and specialty t-shirt and gift shops. We are pursuing relationships with national apparel retailers and distributors, as well as expanding our offerings nationwide within the cannabis industry.

Chiefton Design provides design, branding and marketing strategy consulting services to the cannabis industry. We assist clients in developing a comprehensive marketing strategy, as well as designing and sourcing client-specific apparel and products. Chiefton Design also supports our other segments with marketing designs and apparel.

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Through Next Big Crop (“NBC”), CANN delivers comprehensive consulting services to the cannabis industry that include obtaining licenses, compliance, cultivation, retail operations, logistical support, facility design and construction, and expansion of existing operations. NBC oversees CANN wholesale equipment and supply business, operated under the name “GC Supply,” which provides turnkey sourcing and stocking services to cultivation, retail and infused products manufacturing facilities. Our products include infrastructure, equipment, consumables and compliance packaging.

In November General Cannabis announced financial results for the quarter ended September 30, 2018. CEO Robert Frichtel stated:

“We have surpassed $1 million in revenue for the second consecutive quarter, with revenue of $1,097,047 during the three months ended September 30, 2018.  Our year to date revenues have increased 25% in 2018 compared to 2017. Our Security segment continues to gain traction in California, adding a number of significant clients during the quarter; our Operations segment is making progress diversifying both product and service offerings, and our Marketing & Apparel business is achieving broader, national success,” continued Mr. Frichtel.

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Currently trading at a $83 million market valuation CANN has $10 million in the treasury, little debt and significant, fast growing revenues reporting $1,050,752 million in sales last quarter. CANN is an exciting story developing in small caps; they are  the comprehensive resource for the highest quality service providers available to the regulated cannabis industry and the stock is highly liquid with a long history of explosive moves. We will be updating on CANN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CANN.

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isclosure: we hold no position in CANN either long or short and we have not been compensated for this article.

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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