Item 1.01 Entry Into a Material Definitive Agreement.

On January 27, 2020, 6565 E. Evans Owner LLC (the "Seller"), a Colorado limited liability company and a wholly-owned subsidiary of General Cannabis Corp (the "Company"), entered into a contract to sell the Company's greenhouse office building located at 6565 E. Evans Avenue, Denver, Colorado, to certain individuals for a sale price of $1,570,000. The sale is subject to customary closing conditions.

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