COSTA MESA, Calif., Dec. 14, 2010 /PRNewswire-FirstCall/ -- Today General Cannabis, Inc. (Pink Sheets : CANA ) formerly LC Luxuries Limited (Pink Sheets : LLUX ) announces it has formally acquired the assets of Synergistic Resources, LLC. This acquisition includes the management contract to operate 10 medical marijuana evaluation facilities in California. The business will operate under the name of General Health Solutions, Inc., a wholly-owned subsidiary of General Cannabis. General Health Solutions, Inc., DBA Marijuana Medicine Evaluation Centers (MMEC), specializes in the turn-key management of medicinal marijuana clinics throughout California. The purchase is a combination of cash and stock, and the founder of Synergistic Resources, Brent Inzer, has assumed the position of Manager, Business Development for General Health Solutions, Inc.
"Now that the MMEC transaction has closed, we can concentrate our efforts to expand the General Health Solutions subsidiary," General Cannabis, Inc. CEO Jim Pakulis states. "We now have the expertise to properly evaluate each potential medical cannabis health facility location on a state-by-state basis, and execute accordingly. We are moving fast and plan to manage another health facility in Victorville, California by the end of the year. That will be the eleventh clinic under management."
"The scalability of Synergistic Resource's business model was crucial in the decision to acquire the company. Separately, but just as importantly, was the exceptional quality of care the patients receive from the support staff and the physicians. It is an exceptional operation with a huge upside potential," says General Cannabis, Inc. President, Doug Francis.
Synergistic Resources founder Brent Inzer is delighted with the closing. "Combining our health care business model with General Cannabis' technology and financial wherewithal is a perfect match," states Inzer. "Our call centers hope to receive 1,000 calls a day by 2nd quarter 2011, up from the current average of 500 a day resulting from the technology and talent of General Cannabis."
GENERAL CANNABIS, INC.
Per: /s/ Douglas Francis
Douglas Francis - President
About General Cannabis, Inc. (OTCPK: CANA)
General Cannabis, Inc. (OTCPK: CANA) a Nevada-based company with headquarters in Costa Mesa, California, is a technology driven company that is material in defining the multi-billion dollar 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.
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.
The Pink OTC Markets Inc. does not accept responsibility for the adequacy or accuracy of this release.
SOURCE General Cannabis, Inc.