COSTA MESA, Calif., Dec. 20, 2010 /PRNewswire-FirstCall/ -- Today General Cannabis, Inc. (Pink Sheets: CANA) formerly LC Luxuries Limited (Pink Sheets: LLUX) www.generalcannabis.com, www.weedmaps.com, www.marijuanamedicine.com announces it has entered into a management agreement to manage its 11th marijuana medicine evaluation clinic in Victorville, CA. The 10 other clinics that General Cannabis manages are located throughout California. The ongoing expansion of clinic management is in step with the company's long term goal of managing or owning at least 20 clinics by year end 2011.
On a separate but related issue, General Cannabis is moving forward with its acquisition of substantially all the assets of Revyv, LLC. Revyv, LLC is a marketing company that specializes in the healthcare arena. The acquisition also includes a technology based proprietary verification system used by dispensaries and law enforcement officials to verify a medical marijuana patient's status. Management believes the acquisition should be completed no later than December 31, 2010. The acquisition will increase the company's healthcare marketing capabilities throughout states in which General Cannabis does not yet have a healthcare presence.
"We're continuing to build on our healthcare model and Revyv is another important acquisition which will assist us in reaching our goals," General Cannabis, Inc. President Douglas Francis stated. "We're very excited to incorporate the talent and expertise of Revyv's management team, and hope to be fully integrated by the middle of January."
"The recent acquisition of Synergistic Resources' business which now includes the management of eleven medical marijuana healthcare facilities combined with the outstanding marketing that's been demonstrated by Revyv is a great recipe for solid, consistent growth," stated General Cannabis, Inc. CEO James Pakulis.
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.
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SOURCE General Cannabis, Inc.