General Cannabis Corp (OTCMKTS:CANN) reported that its Form S-1 resale registration declaration pertaining to the sale of up to 9 million shares of the firm’ common stock by definite selling securities holders, the “S-1” has been affirmed effective by the U.S. SEC.
The S-1 will, while operative, allow the selling security holders of company to resell shares of firm’s common stock of the General Cannabis issuable upon exercise of warrants, as stated in the registration declaration, subject to the prospectus delivery necessities of the Securities Act of 1933, as revised.
The details
General Cannabis reported that it will not obtain any proceeds from the sale of its common shares by the offering security holders. Upon the exercise of the warrants in the cash, the company will obtain the exercise price of the warrants. The “S-1” resale registration declaration does not require that the selling security holders offer any shares of common stock bought as a consequence of exercising the warrants.
The shares offering of common stock may just be made by course of a prospectus. A registration declaration pertaining to the shares has been reported operative by the Securities and Exchange Commission. This registration statement can be accessed electronically via the SEC’s website.
General Cannabis is the all-in-one contact for the premium quality service providers available to the legalized Cannabis Industry. They are a trusted partner to the grow, manufacturing and retail side of the approved cannabis business. The company do this via a combination of strong operating units such as consulting, real estate, financing, security and the supply of important infrastructure items to grow facilities and dispensaries. Being a synergistic holding unit, its subsidiaries are in a position to leverage the mutual strengths, as well as an improved balance sheet, to succeed.
With the demand for dissimilar facets of the cannabis marketplace hastening behind momentum after election, legal marijuana and cannabis based businesses counting General Cannabis are gaining by swift expansion and launch of advanced products/services.
THE MORNING REPORT
Start your workday the right way with the news that matters most.
Your information is 100% secure with us and will never be shared Disclaimer & Privacy Policy
