General Cannabis Corp(OTCMKTS:CANN) started running in the beginning of September at about $0.80 a share and has quickly exploded upwards to highs over $3 as pot stocks once again become the hottest thing in small caps. CANN is getting plenty of exposure, recently secured funding and is set up perfectly to cash in on California if the recreational vote is won on November 8.

CANN operates in the red hot Marijuana industry that has quickly turned into a multi-billion dollar massive growth market that is sweeping across the Country with many new states legalizing the drug including Oregon and California likely next.

General Cannabis Corp(OTCMKTS:CANN) bills itself as the all-in-one resource for the highest quality service providers available to the regulated Cannabis Industry. We are a trusted partner to the cultivation, production and retail side of the cannabis business. We do this through a combination of strong operating divisions such as real estate, consulting, security, financing and the distribution of important infrastructure products to grow facilities and dispensaries. As a synergistic holding company, our subsidiaries are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed.

The Company has a number of subsidiaries including Iron Protection Group which provides security and training services to government agencies, multinational corporations, diplomats, dignitaries and non-profit organizations, both domestic and abroad. IPG encompasses all things related to protection, from training individuals in the art of manipulating a firearm, all the way to providing a personal security detail for any of your security needs.

Next Big Crop joined General Cannabis in 2015, bringing their professional consulting platform with them. Formed by Rich Cardinal in 2013, Next Big Crop’s mission is to offer top-notch consulting services in an industry that, until recently, has lacked standardization and large scale agricultural principals. Next Big Crop offers hands-on experience and proven techniques for every phase of the cultivation, processing and sale of cannabis. Services include business planning and application writing to operations optimizations, management and expansion. We offer this knowledge and experience to assist our clients in realizing all of their business goals.

Recently Next Big Crop, assisted in the development of the application and the standard operating procedures that were evaluated by the state, as part of the licensing process.

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Richard Cardinal, Managing Director of Next Big Crop, said: “Our commitment to working exclusively with one single client throughout the process was integral to our success. Exclusivity allowed us to dedicate all of our efforts and resources to Green Leaf Medical LLC and that paid off. Now the hard work begins, as we begin taking hundreds of pages of operational plans and turn them into a state of the art medical cannabis cultivation business. The real winners today are the patients of Maryland who stand to benefit from this truly effective alternative medicine.”

On September 22 CANN announced it completed the initial closing of a $3.0 million private placement transaction with various private parties including existing noteholders of the Company.

The Company issued $2.8 million of senior secured promissory notes and an aggregate of 8,400,000 warrants to purchase common stock. The notes bear interest at 12% per annum and are secured by all of the Company’s assets.

The proceeds of this debt raise will be used primarily to fund the Company’s expansion, repayment of existing mortgages, senior secured debt, and for working capital, as well as to pay any fees and expenses associated with the placement.

“This debt raise will allow us to deliver increased value to our shareholders,” said Robert Frichtel, Chief Executive Officer of General Cannabis Corporation. “We are managing our cost of capital through these transactions and creating a significant amount of working capital to continue our acquisition strategy in the marijuana industry.”

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Currently trading at a $37 million market valuation CANN skyrocketed to over $60 a share in January 2015 during the last pot stock boom. CANN is one of the original pot stocks with a history of huge moves and there is plenty to get excited about here; CANN is getting plenty of exposure, recently secured funding and is set up perfectly to cash in on California if the recreational vote is won on November 8. We will be updating on CANN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CANN.

Disclosure: we hold no position in CANN either long or short and we have not been compensated for this article.