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DENVER, Sept. 13, 2021 (GLOBE NEWSWIRE) — General Cannabis Corp. d/b/a TREES (OTCQB: CANN) (“TREES” or “the Company”), a vertically integrated licensed cannabis operator, is pleased to announce that it has completed the sale of 1,180 Units of Series A Convertible Preferred Equity. Each Unit consists of one share of Series A Convertible Preferred Stock (convertible into 1,000 shares of the Company’s Common Stock) and 300 warrants. The conversion price of the Common Stock at the time of conversion is $1.00 per share, a meaningful premium to the current market price of the Common Stock. The total gross proceeds of the offering was $1,180,000.
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