Exhibit 99.1


General Cannabis Announces Record 2017 Fourth Quarter

Revenues and Elimination of Debt


DENVER, February 20, 2018 – General Cannabis Corp (OTCQB: CANN), the comprehensive national resource to the regulated cannabis industry, today announced revenue results for the quarter ended December 31, 2017.


Revenue results


For the three months ended December 31, 2017, we reported our highest quarterly revenues on record of approximately $990,000, representing an increase of 27% in total revenues when compared to the three months ended December 31, 2016.  Annual revenues in 2017 increased by $540,000 to approximately $3,522,000, or 15%, when compared to annual 2016 revenues of approximately $2,982,000.


·

These increases were driven by record revenues in our Operations segment, Next Big Crop, which had increased revenues of 323% and 193%, respectively, for the three and twelve months ended December 31, 2017, compared to the same periods for 2016.  As the number of states with regulated marijuana markets has increased, Next Big Crop has found a steady increase in demand for its services.

·

Our Marketing segment, Chiefton, experienced 95% and 26%, respectively, increases in revenue during the three and twelve months ended December 31, 2017 when compared to 2016.  We added a new managing director in August 2017 to focus on our apparel business, which positively impacted revenues for both apparel sales and design revenue.

·

Our Security segment, Iron Protection Group, experienced 11% and 16%, respectively, decreases in revenue during the three and twelve months ended December 31, 2017, when compared to 2016.  As previously discussed, IPG is impacted by the drop in wholesale cannabis prices in Colorado.  In late August 2017, we acquired Mile High Protection Services, which provides us the opportunity to expand our security business into the non-cannabis space, as we believe that provides an opportunity for growth.  We have also obtained our license to operate in California, and expect IPG to see significant growth in that market in 2018.


Elimination of debt


Effective today, General Cannabis has paid down all of its existing long term debt.  In addition to raising $4 million through a capital raise in 2017, we have received an additional $3.5 million in funds through the exercise of warrants and stock options in 2018.  We used a portion of these funds to pay off the remaining $1,621,250 due under our 12% Notes in January 2018, and to pay off the $1,370,000 due under the Infinity Note in February 2018.


“Our continued growth in revenue is a reflection of our ability to pursue opportunities from the expanded legalization of medical and recreational cannabis in numerous states,” said Robert Frichtel, Chief Executive Officer of General Cannabis.  “We also have achieved a significant milestone in the Company’s history, paying down our long term debt.”


“We are now well positioned to continue our growth,” Frichtel added, “and focus on achieving profitability within each of our operating divisions.”


“The next stage for General Cannabis is to vigorously evaluate acquisition targets,” said Michael Feinsod, Executive Chairman of General Cannabis.  “We have one of the strongest growth platforms in the industry and are now ideally positioned to expand our operations.  We continue to seek new opportunities to grow our existing portfolio companies and other businesses that serve the regulated cannabis industry. ”


Our full results can be found at www.generalcann.com/sec-filings/.


About General Cannabis Corp


General Cannabis Corp is the comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. We are a trusted partner to the cultivation, production and retail sides of the cannabis business. We do this through a combination of strong operating divisions such as security, marketing, operational consulting and products, real estate and financing. As a synergistic holding company, our divisions are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed. Our website address is www.generalcann.com.




The following information was filed by General Cannabis Corp (CANN) on Friday, February 23, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate General Cannabis Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by General Cannabis Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account