FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Oster Seth 2. Issuer Name and Ticker or Trading Symbol GENERAL CANNABIS CORP [ CANN ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)         (First)         (Middle)
C/O GENERAL CANNABIS CORP, 6565 EAST EVANS AVENUE
3. Date of Earliest Transaction (MM/DD/YYYY)
9/11/2020
(Street)
DENVER, CO 80224
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option  $0.31  9/11/2020    A     37500      9/11/2020  9/11/2027  Common Stock  37500  $0 (1) 37500  D   
Option  $0.31  9/11/2020    A     37500      9/11/2020  9/11/2027  Common Stock  37500  $0 (1) 37500  D   
Option  $1.10  9/11/2020    D (2)       100000    (2) 8/9/2024  Common Stock  100000  $0 (2) 0  D   
Option  $1.10  9/11/2020    A (2)    100000       (2) 8/9/2026  Common Stock  100000  $0 (2) 100000  D   
Option  $0.67  9/11/2020    D (3)       75000    (3) 10/2/2024  Common Stock  75000  $0 (3) 0  D   
Option  $0.67  9/11/2020    A (3)    75000       (3) 10/2/2026  Common Stock  75000  $0 (3) 75000  D   
Option  $0.67  9/11/2020    D (4)       37500    (4) 1/21/2025  Common Stock  37500  $0 (4) 0  D   
Option  $0.67  9/11/2020    A (4)    37500       (4) 1/21/2027  Common Stock  37500  $0 (4) 37500  D   
Option  $0.39  9/11/2020    D (5)       37500    (5) 4/22/2025  Common Stock  37500  $0 (5) 0  D   
Option  $0.39  9/11/2020    A (5)    37500       (5) 4/22/2027  Common Stock  37500  $0 (5) 37500  D   

Explanation of Responses:
(1)  The reporting person obtained the listed securities pursuant to the Issuer's 2014 Equity Incentive Plan.
(2)  The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on August 9, 2019 and provides vesting over a one year period.
(3)  The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on October 2, 2019 and provides vesting over a one year period. The new option is immediately exercisable.
(4)  The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on January 21, 2020 and provides vesting over a one year period. The new option is immediately exercisable.
(5)  The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of replacement option. The option was originally granted on April 22, 2020 and provides vesting over a one year period. The new option is immediately exercisable.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Oster Seth
C/O GENERAL CANNABIS CORP
6565 EAST EVANS AVENUE
DENVER, CO 80224
X



Signatures
By /s/ Seth Oster 10/15/2020
**Signature of Reporting Person Date
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