COSTA MESA, Calif., Jan. 20, 2011 /PRNewswire/ -- Today General Cannabis, Inc. (Pink Sheets: CANA) (GeneralCannabis.com, Weedmaps.com) announces the signing of the final documents for the acquisition of substantially all the assets of Revyv, LLC. Revyv is a technology firm specializing in the online interfacing, marketing and optimizing of health care facilities in the medicinal cannabis industry. In addition to acquiring key domains such as CannabisCenters.com and SafeaccessMD.com, General Cannabis is also acquiring Revyv's proprietary verification system designed specifically for the medicinal cannabis industry. General Cannabis intends to use CannabisCenters.com as one of several company owned medical information and education portals. The company anticipates expanding on the scope of the site to include a social network for individuals wishing to address medicinal cannabis issues and topics. The acquisition will increase the company's healthcare marketing capabilities throughout states in which General Cannabis, Inc., does not yet have a healthcare presence.
"We have built a strong and credible presence in the medical cannabis industry," states General Cannabis, Inc., CEO Jim Pakulis, "and this exciting acquisition will further our mission of being the leaders in providing the best options for cannabis patients. The synergy between General Cannabis and Revyv will further strengthen our position in the marketplace."
Doug Francis, President of General Cannabis agrees, "Revyv is an outstanding asset to General Cannabis. The dynamic technology, healthcare expertise and synergy will contribute to the corporate and developmental growth of our company."
GENERAL CANNABIS, INC.
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 medicinal cannabis industry. The wholly owned subsidiaries of General Cannabis include WeedMaps Media, Inc., General Health Solutions, Inc., General Merchant Services, 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.
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SOURCE General Cannabis, Inc.