$CANA General Merchant Services, Inc. Processing Volume for December Exceeds $700,000 Gen Cannabis (USOTC:CANA) Intraday Stock Chart Today : Thursday 6 January 2011
Today General Cannabis, Inc. (Pink Sheets: CANA) www.generalcannabis.com, www.weedmaps.com, www.marijuanamedicine.com announces that its wholly owned subsidiary, General Merchant Services, Inc. exceeded $700,000 in merchant processing volume in December, during its first full month of operation. The company processed over $500,000 in merchant volume in November, the month in which General Merchant Services' full time operations commenced. General Merchant Services offers credit card merchant services to subscribers of Weedmaps.com, which is owned by Weedmaps Media, Inc. and 11 medicinal marijuana health care facilities managed by General Health Solutions, Inc., both of which are wholly owned subsidiaries of General Cannabis, Inc. In addition to offering credit card processing services to all medicinal cannabis related entities, General Merchant Services also provides credit card processing services to non-cannabis related industries including automotive and healthcare.
"I've been involved in merchant processing and running banks for over 30 years, but in all that time I have never seen or have been a part of such an incredibly well run operation. From senior management down to the sales floor, General Merchant Services is a top notch company that is providing an exceptional service in a very competitive market place," states John Podlesni, Senior Analyst for General Merchant Services underwriting department.
General Cannabis, Inc. CEO James Pakulis comments: "We are very fortunate to have exceptionally talented individuals working with us at General Merchant Services. I truly believe we have the best people, best product and best risk control in place. We got off to a great start at the end 2010, and anticipate strong growth throughout 2011."
GENERAL CANNABIS, INC.
About General Cannabis, Inc. (Pink Sheets: CANA)
General Cannabis, Inc. (Pink Sheets: 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.
For info please contact our investor relations department at 1-888-693-5219.
The Pink OTC Markets Inc. does not accept responsibility for the adequacy or accuracy of this release.
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