NEWPORT BEACH, Calif., April 4, 2011 (GLOBE NEWSWIRE) -- General Cannabis, Inc. (Pink Sheets:CANA) (GeneralCannabis.com, WeedMaps.com, CannaCare.com) subsidiaries including WeedMaps Media, Inc., General Health Solutions, Inc. and General Merchant Solutions, Inc., continues its growth trajectory.
WeedMaps Media, Inc. revenues increased for the 16th consecutive month ending in March, and Q1 is the most successful three month period in the company's history. WeedMaps.com is the nation's largest medical cannabis website and part of WeedMaps Media, Inc., a wholly subsidiary of General Cannabis, Inc.
General Cannabis, Inc. Chief Web Officer Justin Hartfield states, "Our IT team is really starting to ramp up and produce amazing results. Combining that with a new, huge office gives us tremendous running room for continuing our expansion into an ever growing number of verticals. The recent approval of version 3.0 of 'LegalMaps', WeedMaps.com iPhone application, is just the latest example of our robust mobile software and maturing core APIs."
WeedMaps.com recently exceeded 500,000 downloads in total on its 'LegalMaps' iPhone application in the App Store. In addition, WeedMaps.com surpassed 10,000 subscribers for its DailyDeals coupon program, less than 30 days after its initial launch. DailyDeals offers the ability for dispensaries and collectives to offer discounts on medicinal cannabis to their patients.
General Cannabis, Inc. announces it has filed Form S-1 with the Securities and Exchange Commission. The company has reported consolidated gross revenues of $7,699,634 for 2010, up from $2,670,721 in 2009.
GENERAL CANNABIS, INC.
About General Cannabis, Inc. (Pink Sheets:CANA)
General Cannabis, Inc., (Pink Sheets:CANA) a Nevada-based company with headquarters in Newport Beach, California, is a technology driven company that is material in defining the multi-billion dollar medicinal cannabis industry. The wholly owned subsidiaries of General Cannabis include WeedMaps Media, Inc., General Health Solutions, Inc., General Merchant Solutions, Inc. and US Cannabis, Inc. Each subsidiary plays a vital role in the ongoing success of General Cannabis. General Cannabis explores opportunities of vertical integration through the five core industry sectors identified as probable high growth areas including media, technology, merchant services, medical and management. General Cannabis, Inc. trades on the OTC Pink Current Information tier of OTC Markets Group, Inc. under the symbol "CANA".
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). General Cannabis, Inc. cautions that statements made in this news release relating to the change of control and new business direction constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. General Cannabis, Inc. undertakes no obligation to revise these statements following the date of this news release.
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