Richard Cardinal entered into an Asset Purchase Agreement to acquire Next Big Crop from General Cannabis Corp (OTCPK:CANN) for $0.15 million on July 16, 2021. The purchase price for the sale consists of a payment by Buyer of $0.075 million payable upon signing, an additional $0.075 million payable within one year of the closing, and ten percent (10%) of profits generated by Buyer in the states of Michigan, Mississippi and Massachusetts for a period of twelve months from the Closing. As part of the Agreement, General Cannabis Corp shall transfer the trade name associated with NBC to Richard and will discontinue its Operations Consulting and Products Segment. The Board of Directors approved the Agreement in furtherance of its previously disclosed plan to identify and acquire licensed cannabis assets that will allow us to continue to generate cash and meet our financial commitments. The transaction is subject to approval by the State of Oklahoma and/or any counties or municipalities therein, or any other Governmental Authority, as may be necessary to consummate the transactions contemplated by this Agreement. Substantially all of the employees that performed services in NBC resigned from General Cannabis Corp as of the effective date of the Agreement. The closing is subject to standard closing conditions, as well as a condition that a significant customer of NBC pay outstanding invoices due and payable to General Cannabis Corp in the approximate amount of $0.28 million.