COSTA MESA, Calif., Jan. 5, 2011 /PRNewswire/ -- Today General Cannabis, Inc. (Pink Sheets: CANA) formerly LC Luxuries Limited (Pink Sheets: LLUX) www.generalcannabis.com, www.weedmaps.com, www.marijuanamedicine.com announces that its wholly owned subsidiary, Weedmaps Media, Inc. had gross revenue of over $3,000,000 in 2010 compared to gross revenue of less than $150,000 in 2009, its first year of operation. Weedmaps.com, a division of Weedmaps Media, Inc. is the largest finder site for medicinal dispensaries in the United States. As of December 2010 over 900 dispensaries were paid subscribers to Weedmaps.com, up from 27 dispensaries in December 2009. Last week the company also hit a corporate record for the most simultaneous users on its site. The high traffic volume is a direct result of the newly launched 'Medical Marijuana Stock Exchange' that allows users to search and compare various cannabis strains. The new cannabis stock exchange shows real-time metrics for price, popularity, trends and potency.
"We have created and implemented a real-time proprietary tracking system which allows users to search for their favorite medical cannabis strain by strain, price, popularity and location. WeedMaps.com has become the de facto place for medical marijuana users in the United States to find their medication and connect with other patients," says Justin Hartfield, Chief Web Officer of General Cannabis, Inc. and WeedMaps Media. Adds President Doug Francis, "We anticipated significant growth in 2010 and clearly achieved our pre-determined objectives. We firmly believe 2011 will be an exceptional year for Weedmaps Media."
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 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.