General Cannabis (OTCBB: CANA) Marijuana Market Lighting Up with Acquisitions

General Cannabis (OTCBB: CANA) Marijuana Market Lighting Up with Acquisitions
As the legalization debate continues to maintain prevalence and notoriety in popular American culture, fueled in no small part by California’s unsuccessful bid to sanction the plant with Prop 19 last month, investor’s are taking increased notice. The medical marijuana market is growing a little more every day.

That growth is reflected in small-cap, publically-traded companies catering to the unique needs of medical marijuana dispensaries, websites, and their budding operations. Among the shining stars in this arena is General Cannabis (OTCBB:CANA), which has begun acquiring entities within the medical marijuana field, most recently purchasing Weedmaps.com, the popular Yelp-for-pot social sharing and networking site for an undisclosed amount.

Weedmaps, with over 50,000 members, 2 million hits per months and annual revenue expected to reach 3 million, the digital hub is an excellent representation of the growing interest in medical marijuana. Prior to the completion of the purchase, investors bid up the shares of General over 300%. 

Acquisitions and consolidation or the defragmentation of the medical marijuana industry appears to be its future. General Cannabis is leading the way on that trend announcing on December 6th, under their management sector US Cannabis, the signing of closing documents to purchase substantially all of the assets of Synergistic Resources, LLC. Synergistic Resources runs Marijuana Medical Evaluation Centers (MMEC) and specializes in the turn-key management of medicinal marijuana clinics throughout California.