General Cannabis Corp OTCMKTS: CANN Prices $3,000,000 Registered Direct Offering

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General Cannabis Corp OTCMKTS: CANN 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.

General Cannabis Corp OTCMKTS: CANN On May 31, 2019 announced it has entered into definitive agreements with investors for the purchase and sale of (i) 3,000,000 shares of common stock, par value $0.001 per share, and (ii) warrants to purchase up to 3,000,000 shares of common stock at a combined offering price of $1.00 per share, pursuant to a registered direct offering. The warrants will have an exercise price of $1.30 per share, will be immediately exercisable and will expire five years from the date of issuance. The gross proceeds from the offering are expected to be approximately $3,000,000 before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds for general corporate purposes, which may include, among other things, product development, acquisitions, capital expenditures, repayment of existing indebtedness and other business opportunities. The closing of the registered direct offering is expected to take place on or about June 4, 2019, subject to the satisfaction of customary closing conditions.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-222907) previously filed with the U.S. Securities and Exchange Commission (the “SEC”), on February 7, 2018, and declared effective on February 12, 2018. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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