Exhibit 10.1
General Cannabis Corp
6565 East Evans Ave.
Denver, CO 80224
September 13, 2020
Shore Ventures III, LP
Hershey Strategic Capital, LP
6 Pompano Road
Rumson, New Jersey 07760
Attn: Mr. Adam Hershey
Re: Extension of Negotiation Period in Subscription Agreement dated May 29, 2020
Dear Adam:
Reference is made to that certain Subscription Agreement, dated as of May 29, 2020 (the “Subscription Agreement”) by and among General Cannabis Corp (the “Company”) and Hershey Strategic Capital, LP and Shore Ventures III, LP (collectively, the “Investor”). Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Subscription Agreement.
This will confirm the Company and Investor’s agreement that the Negotiation Period, as defined in Section 6.8 of the Subscription Agreement, shall be extended to October 4, 2020.
Please confirm your agreement to the foregoing by signing below.
| | Sincerely, |
| | |
| | General Cannabis Corp |
| | |
| | By: | /s/ Steve Gutterman |
| | | Steve Gutterman, Chief Executive Officer |
ACKNOWLEDGED AND AGREED
THIS 13th DAY OF SEPTEMBER, 2020:
HERSHEY STRATEGIC CAPITAL, LP
By: Hershey Strategic Capital GP, LLC
| By: | /s/ Adam Hershey | |
| | Adam Hershey, Managing Member | |
Page 2
SHORE VENTURES III, LP
By: Hershey Management IV, LLC
| By: | /s/ Adam Hershey | |
| | Adam Hershey, Managing Member | |
