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US (CO): Acquisition of SevenFive Farm cultivation facility completed

General Cannabis has completed the acquisition of SevenFive Farm, a 17,000 square foot light deprivation greenhouse cultivation facility in Boulder, Colorado. General Cannabis’ acquisition is the result of its approval by the State of Colorado’s Marijuana Enforcement Division, which established the Company as one of the only Colorado-based entities to own and operate licensed cannabis facilities.

“This is a significant milestone for our company and for the continued development of the legalized cannabis market in Colorado,” said Steve Gutterman, CEO of General Cannabis. “SevenFive Farm is well-known throughout Colorado for its authentic, quality cultivation and our intention is to build on that foundation to significantly increase yields and sales. This transaction is the first of what we anticipate will be similar ones with other licensed operators in Colorado as we execute on our rollup strategy.”

General Cannabis expects to produce over 3,000 pounds of cannabis per year from SevenFive Farm.  Production will be sold on the wholesale market and, as the Company adds stores, directly to customers. 

General Cannabis Corp also operates Next Big Crop (“NBC”), a full-service cannabis consulting firm with expertise in the application, design, buildout and operation of cultivation facilities.  NBC has designed and operated over 100 cultivation facilities throughout the country, prepared and submitted over 35 license applications, and enabled clients to produce over 100,000 pounds of regulated cannabis.  The NBC team will leverage its expertise to increase productivity at SevenFive Farm.

For more information:
General Cannabis Corp.

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