General Cannabis Announces Approval of Name Change

DENVER, June 24, 2015 (GLOBE NEWSWIRE) — General Cannabis Corporation (OTCQB:CANN), a service provider to businesses in the regulated cannabis industry, today announced that its shareholders and FINRA have approved its name change. The Company’s Common Stock continues to trade under the ticker symbol “CANN.” Advanced Cannabis Solutions has been doing business as General Cannabis Corporation since March 2015.

Robert Frichtel, CEO of General Cannabis, stated, “The name change to General Cannabis Corporation is important because it is a better description of what our function in the regulated cannabis industry is. Our ambition is to offer the cannabis grower or dispensary every possible support service imaginable. We want to provide those businesses with everything they need to be profitable, not only the most intricate and advanced services but also the most basic fundamental ones. We are becoming the trusted partner for businesses in all aspects of the regulated cannabis industry. As our product and services offerings become more diverse, we believed the name change to be appropriate.”

Michael Feinsod, Chairman of the Board added, “General Cannabis properly represents our leadership position in the regulated cannabis industry. We own finance and partner with leading companies in the regulated cannabis marketplace. Using an acquisition driven strategy, and focusing on internal growth, we are building the leading platform to take advantage of the growing industry. We are excited to be building the Company and the General Cannabis brand.”

General Cannabis has five distinct lines of business, each dedicated to addressing different needs of the fast-growing cannabis industry: Iron Protection Group, Next Big Crop Consulting, The Greenhouse, GC Capital Corporation, and ACS Wholesale. We intend to aggressively expand into other sectors that touch the cannabis industry.

Iron Protection Group addresses the professional protective needs of the regulated cannabis industry.

Next Big Crop Consulting focuses on designing, building and operating some of the most technologically advanced cannabis facilities across the country.

The Greenhouse is a business hub located in Denver, Colorado. It is a multi-tenant office building that, among other things, provides the largest shared workspace environment purely dedicated to participants serving the cannabis industry. It serves non-regulated ancillary businesses to the cannabis industry, as well as providing educational and networking opportunities for licensees. The Greenhouse is part of a 16,000 square foot office building that contains rentable space for a fully functioning bank.

GC Capital Corporation owns and operates real estate that is leased to licensed cannabis cultivators. GC Capital plans to begin providing secured and unsecured financing to companies in the cannabis industry.

GC Wholesale provides growing facilities and dispensaries with a variety of products they require. ACS Wholesale offers nutrients and grow mediums, plant containers in a wide array of sizes, regulated exit packaging and promotional items. Management has rebranded the former ACS Wholesale in light of the Company’s name change.

About General Cannabis Corporation

General Cannabis Corporation provides services to the regulated cannabis industry throughout the United States.

Forward Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including the risks identified in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including but not limited to Risk Factors contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Robert Frichtel
GCC, Inc.
(303) 759-1300
Michael Porter, President
Porter LeVay & Rose, Inc.
(212) 564-4700