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General Cannabis Corp (OTCMKTS:CANN) Reports Retirement Of 12% Notes

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General Cannabis Corp (OTCMKTS:CANN) has implemented one of its strategic objectives of strengthening the balance sheet via a notable debt reduction. Effective January 3, 2018, the company closed the full sum of its 12% Notes, around $1.621 million, which was slated to become due in September 2018.

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Robert Frichtel, the CEO of General Cannabis, expressed that they consider this deal offers a prospect to enhance shareholder value and is immediately accretive to EPS. Their businesses continue to scale with robust cash flow characteristics, and they consider that they can meaningfully enhance shareholder return by lowering debt. They remain committed to allocating funds in a manner that aptly balances their growth objectives with their focus on providing their shareholders with a strong prospect for return.

Michael Feinsod, the Chairman of General Cannabis, reported that with the recent closure of an equity offering and reported sale of certain assets, it marks as a right time to clean up their balance sheet and appropriately retire debt. They remain dedicated to aggressive expansion into latest regulated cannabis markets. They continue to assess all strategic methods to enhance shareholder value.

General Cannabis marks as the comprehensive resource for the highest-quality service providers for the regulated cannabis market. They are a trusted partner to the retail, cultivation and production sides of the cannabis market. The company achieve this through a combination of remarkable operating divisions such as operational consulting and products, security, marketing, financing and real estate. As a synergistic holding entity, their segments are able to use the strengths of each other, and an impressive balance sheet, to succeed.

General Cannabis’ experienced team of associates is committed to working along with its customers to help achieve results for their businesses, from keeping businesses operating efficiently to continuously optimizing and rethinking for a more productive tomorrow.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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