DENVER, CO -- (Marketwired) -- 03/05/15 -- Advanced Cannabis Solutions (OTC: CANN), a service provider to businesses in the regulated cannabis industry, today announced that it intends to seek approval of a name change to General Cannabis Corporation. The company remains domiciled in Colorado. Currently, the stock ticker symbol "CANN" remains the same. The Company expects to effect the name change this spring in connection with its annual shareholders' meeting.
Robert Frichtel, CEO of General Cannabis, stated, "The Company has expanded its reach significantly in the last year. We believe our new name better describes our relationship to those businesses we service that operate in the regulated cannabis industry. We now participate in a vast array of cannabis related markets, from finance to real estate to wholesale distribution of cultivation supplies. We want a name and logo that truly represent the size and scope of the company."
We have three distinct lines of business, each dedicated to addressing different needs of the fast-growing cannabis industry: the Greenhouse, GC Capital Corporation, and ACS Wholesale. We intend to aggressively expand into other sectors that touch the cannabis industry.
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.
ACS 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.
Frichtel concluded, "We aim to be the one-stop shop for all the goods and services related to the regulated-cannabis industry. The market is experiencing a gold rush mentality, and it is our ambition to sell the picks and the shovels."
About Advanced Cannabis Solutions
Advanced Cannabis Solutions provides services to the regulated cannabis industry throughout the United States. We lease growing space and related facilities (commercial real estate and equipment) to licensed marijuana business operators for their production needs.
We are pursuing ancillary business products and services including customized finance, capital formation, banking, regulatory compliance consulting and advanced logistical support for grow operations.
Advanced Cannabis does not grow, harvest, distribute or sell cannabis or any substances regulated under United States law such as the Controlled Substances Act, nor does it intend to do so in the future.
Porter, LeVay and Rose