Business
General Cannabis Announces Paydown of 12% Notes
General Cannabis Announces Paydown of 12% Notes.
About this update from Trees Corporation
[{"type":"text","content":"\n\n DENVER, Jan. 04, 2018 (GLOBE NEWSWIRE) -- General Cannabis Corp. (OTCQB:CANN) announced that the company has executed one of its strategic goals of strengthening the balance sheet through a significant debt reduction.  Effective January 3, 2018, General Cannabis paid off the full balance of its 12% Notes, $1,621,250, which were due in September 2018. \n General Cannabis CEO Robert Frichtel said, “We believe this transaction provides an opportunity to increase shareholder value and is immediately accretive to earnings per share. Our businesses continue to grow with strong cash flow characteristics, and we believe that we can meaningfully increase shareholder return by reducing debt. We remain committed to allocating capital in a manner that appropriately balances our growth objectives with our focus on providing our shareholders with a strong opportunity for return.” Michael Feinsod, Chairman of General Cannabis added “With the recent completion of an equity offering and sale of certain real estate assets, it is an opportune time to clean up our balance sheet and appropriately pay down debt.  We remain committed to aggressive expansion into new regulated cannabis markets.  We continue to explore all strategic methods to maximize shareholder value.” About General Cannabis Corp. 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. Our experienced team of associates is dedicated to working side by side with our customers to help drive results for their businesses - from keeping operations running efficiently today to continuously rethinking and optimizing for a more productive tomorrow. Our website address is www.generalcann.com. Forward-looking Statements  This release contains forward-looking statements that relate to future events or General Cannabis’ future performance or ...