DENVER, Could 31, 2019 (GLOBE NEWSWIRE) — GENERAL CANNABIS CORP (OTCQX: CANN) (“Common Hashish” or the “Firm”), the great nationwide useful resource to the regulated cannabis business, right this moment introduced it has entered into definitive agreements with buyers for the acquisition and sale of (i) 3,000,000 shares of frequent inventory, par worth $0.001 per share, and (ii) warrants to buy as much as 3,000,000 shares of frequent inventory at a mixed providing worth of $1.00 per share, pursuant to a registered direct providing. The warrants can have an train worth of $1.30 per share, shall be instantly exercisable and can expire 5 years from the date of issuance. The gross proceeds from the providing are anticipated to be roughly $3,000,000 earlier than deducting placement agent charges and different providing bills. The Firm intends to make use of the web proceeds for normal company functions, which can embrace, amongst different issues, product growth, acquisitions, capital expenditures, reimbursement of current indebtedness and different enterprise alternatives. The closing of the registered direct providing is predicted to happen on or about June 4, 2019, topic to the satisfaction of customary closing circumstances.
This providing is being made pursuant to an efficient shelf registration assertion on Kind S-3 (File No. 333-222907) beforehand filed with the U.S. Securities and Alternate Fee (the “SEC”), on February 7, 2018, and declared efficient on February 12, 2018. A prospectus complement describing the phrases of the proposed providing shall be filed with the SEC and shall be obtainable on the SEC’s web site situated at http://www.sec.gov.
This press launch shall not represent a proposal to promote or the solicitation of a proposal to purchase securities nor shall there be any sale of securities in any state or jurisdiction during which such supply, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About Common Hashish
Common Hashish Corp is the great nationwide useful resource for the very best high quality service suppliers obtainable to the regulated cannabis business. We’re a trusted associate to the cultivation, manufacturing and retail sides of the cannabis enterprise. We do that by way of a mix of sturdy working divisions comparable to safety, advertising and marketing, operational consulting and merchandise, actual property and financing. As a synergistic holding firm, our divisions are in a position to leverage the strengths of one another, in addition to a bigger stability sheet, to succeed.
For extra info, go to www.generalcann.com or name (303) 759-1300.
This press launch consists of predictions, estimates or different info that may be thought-about forward-looking throughout the which means of relevant securities legal guidelines, together with with respect to the anticipated closing of the providing and the usage of the web proceeds therefrom. Whereas these forward-looking statements signify the Firm’s present judgments, they’re topic to dangers and uncertainties that might trigger precise outcomes to vary materially. You’re cautioned to not place undue reliance on these forward-looking statements, which mirror the opinions of the Firm’s administration solely as of the date of this launch. Please remember that the Firm shouldn’t be obligating itself to revise or publicly launch the outcomes of any revision to those forward-looking statements in mild of recent info or future occasions. When used herein, phrases comparable to: “potential,” “count on”, “look ahead,” “imagine,” “devoted,” “constructing,” or variations of such phrases and comparable expressions are meant to determine forward-looking statements. Elements that might trigger precise outcomes to vary materially from these contemplated in any forward-looking statements made by the Firm herein embrace these disclosed below “Threat Elements” within the prospectus complement and the accompany prospectus, in addition to within the Firm’s periodic stories and different filings with the SEC, copies of which can be found on the SEC’s web site at www.sec.gov. Besides as required by regulation, the Firm undertakes no obligation to replace these statements after the date of this press launch.
CFO, Common Hashish Corp