COLORADO SPRINGS, CO--(Marketwired - Jan 2, 2014) - Advanced Cannabis Solutions (ACS) (OTCQB: CANN) announced today that it has successfully met the minimum capital raise requirements for its current $5 million convertible debt placement. This offering, managed by the Denver office of the brokerage firm Spencer Edwards, will be used in the near future to fund several real estate acquisitions of marijuana grow facilities in Colorado.
As evidenced by the enormous turnout in Colorado of marijuana consumers yesterday, the demand for product is projected to increase by 200-300% in 2014 compared to 2013. ACS President and CEO Robert Frichtel stated, "Our business model is perfectly positioned to give access to additional grow space and financing to the marijuana industry. We believe we provide a real solution to the capacity problem for operators, while also giving our investors a great rate of return. The favorable investor response to this offering shows that we are on the right track."
About Advanced Cannabis Solutions
ACS provides a comprehensive set of solutions to the regulated cannabis industry. The Company does not grow, harvest, distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
The Company leverages its management team's extensive experience in serving the cannabis industry by providing the following three distinct areas of products and services: real estate, consulting, and ancillary products. ACS plans to work exclusively with licensed and regulated clients.