General Cannabis Inc., (OTCPK: CANA) Relocates to Larger Offices; Continues on Growth Trajectory

Brittney Barrett |

General Cannabis, Inc. (OTCPK: CANA), whose subsidiaries, include WeedMaps Media, Inc., General Health Solutions, Inc. and General Merchant Solutions, Inc. have relocated into a 21,000-plus square foot Class A office space in Newport Beach, CA in order to accommodate the company’s continued growth. General Cannabis specializes in the ancillary markets of the medicinal cannabis industry and has developed an impressive Internet presence with WeedMaps.com. The new office will encourage a continuation of that trajectory, allowing greater expansion within their technology and sales departments.



General Cannabis has been attracting attention for their innovative approach to the burgeoning industry of medicinal cannabis and it has been reflected in their growth. For the month of March, the company reported greater than $2,200,000 in total credit card processing volume, up from $1,700,000 of volume in February.

In November 2010, the founders of General Cannabis observed and sought to rectify the fragmented nature of the medicinal cannabis industry, particularly deficiencies in credit card processing. Since then they have gone on to create a multi-pronged approach to streamlining the medicinal cannabis business.

The company launched their General Health Solutions, the new CannaCare and CannaCare.com name, logo and website in early April. During the first quarter, the company revamped, updated and re-configured the software and platform, creating a scalable and multifaceted system. In addition, CannaCare has been designed to be the definitive education and medical portal for individuals seeking information about medicinal cannabis.

General Health Solutions increased the number of medical cannabis clinics under management to 14, up from 10 at the end of last year. All 14 clinics are located across California. The company anticipates managing and/or owning a total of 20 clinics by year end.

The new developments and growth demand a larger space for the company to operate and continue to expand.

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
YUMA.P.A Yuma Energy Inc. 9.25% Series A Cumulative Redeema n/a n/a n/a 0

Comments

Emerging Growth

GSV Capital Corp

GSV Capital Corp is an externally managed, non-diversified closed-end management investment company. The Company has elected to be treated as a business development company.

Private Markets

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…

California Green Tree Development

California Green Tree Development LLC (CGTD) is a for-profit LLC that plans on using California’s booming market of legal cannabis products for medical purposes. As an unprecedented resource, Cannabis has…