DENVER, May 5, 2015 (GLOBE NEWSWIRE) — Advanced Cannabis Solutions, d/b/a General Cannabis Corporation (OTC:CANN), a service provider to businesses in the regulated cannabis industry, today announced that its common stock is being up-listed to the OTCQB effective May 6, 2015.
Robert Frichtel, CEO of General Cannabis, stated, “The Company is extraordinarily excited about this demonstrated improvement in the market categorization of the company as we believe it relates directly to the improvement in our level of financial and corporate disclosure. We have worked toward this for some time now, and this up-listing demonstrates our commitment to building a great company. Our current and future shareholders should all be very pleased with this development. We believe that the up-listing will enhance liquidity and boost our profile, which should benefit everyone who owns ACS stock.”
OTCQB companies must be registered with and reporting to the SEC or a U.S. regulatory agency. Approximately 4,000 companies are currently listed on the OTCQB.
The Company plans to build on its successful progression and will continue working towards its goal of meeting the listing requirements for trading on a stock exchange such as the NYSE Euronext or NASDAQ in the future.
About General Cannabis Corporation
General Cannabis Corporation 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 cannabis business operators for their production needs.
Through Iron Protection Group, we provide security services tailored to the cannabis industry including armed guards, cash transport and secure cannabis transport services.
We are pursuing ancillary business products and services including customized finance, capital formation, banking, regulatory compliance consulting, security and advanced logistical support for grow operations.
As previously announced, Advanced Cannabis Solutions, Inc. intends to seek shareholder approval to change its name to General Cannabis Corporation. The Company expects to effect the name change this spring in connection with its annual shareholders’ meeting.