WeedMaps Media Inc. is buying MMJMenu, a provider of seed-to-sale collective management and point-of-sale software for the medical marijuana industry. Terms of the deal weren’t released. WeedMaps is owned by General Cannabis Inc., a Newport Beach, Calif.-based company that is traded on the over-the-counter Bulletin Board. The deal comes only a month after General Cannabis acquired Marijuana.com.
General Cannabis, Inc. (OTCBB: CANA), (OTCQX: CANA), a technology-based Internet marketing services company, today announced that its wholly-owned subsidiary, WeedMaps Media, Inc., has signed documents to acquire the assets of MMJMenu, LLC, the medical marijuana industry’s leading provider of seed-to-sale collective management and point of sale software.
MMJMenu provides business management software for dispensaries and growers, enabling them to track their medical cannabis from seed to sale. www.MMJMenu.com is used by hundreds of medical marijuana businesses in California, Colorado, Michigan, Montana, Washington as well as in Canada.
“Alex and Justin Weidmann, Co-Founders of MMJMenu, have built a great company around great software,” said Justin Hartfield, Chief Web Officer of WeedMaps. “This acquisition will complete the medical marijuana end-to-end technology platform we set out to establish at the onset, and MMJMenu will be at the core of our new product offering coming in early 2012. MMJMenu’s closed end data offers substantial value to medical marijuana users, patients and our industry. We will provide physicians, vendors and dispensaries with the tools they need to run a successful and compliant marijuana business. Pooling this software with the rest of our solutions will allow us to strategically price MMJMenu for maximum acceptance.” “We now have the foundation for a real, complete and transparent solution for municipalities and governing bodies who want to self-regulate. Once closed, this acquisition completes our major strategic objective for 2011 while solidifying our vision for 2012 and beyond,” said Jim Pakulis, CEO of General Cannabis.
About General Cannabis
General Cannabis, Inc., a technology-based Internet marketing services company, offers customers an integrated suite of services including media, technology, marketing and information. Founded in 2010, General Cannabis is headquartered in Newport Beach, California. The Company’s common stock trades on the OTC market’s highest tier, OTCQX, under the ticker symbol “CANA.” www.GeneralCannabis.comSafe Harbor NoticeCertain 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 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.