General Cannabis, whose admirable mission is to "improve your quality of life", has acquired a dime bag of Weedmaps, as first pre-announced back in September. General Cannabis, formerly known as LC Luxuries Limited, is buying the "Yelp for pot" for a mix of cash and stock with additional earn-out potential for the company's duo of founders, although the exact terms of the transaction were not disclosed. Stoner jokes aside, General Cannabis, a publicly traded company on the Pink Sheets, says it had been planning the acquisition of Weedmaps for a long time. As part of the deal, Weedmaps co-founders Justin Hartfield and Keith Hoerling have entered into long-term employment contracts with General Cannabis and will assume the roles of Chief Web Officer and Chief Technology Officer, respectively.
Source: http://feedproxy.google.com/~r/Techcrunch/~3/nEuvpzggtW8/
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