Denver, CO — October 4, 2018 — /D.M.O. Newswire/ – AmeriCann, Inc. (OTC:ACAN), an agricultural-technology company that is developing the next generation of eco-friendly start-of-the-art greenhouse cannabis cultivation and processing properties, has announced plans to own and operate a large-scale cannabis manufacturing and processing facility at its 52-acre Massachusetts Medical Cannabis Center (MMCC) in Freetown, MA.
The company has commenced construction on the first phase of the MMCC and recently released designs for the second phase. The second phase includes AmeriCann‘s manufacturing facility which is designed to provide support to the entire MMCC project, as well as to other licensed cannabis cultivators throughout Massachusetts.
“Participating directly as an operator allows us to have a larger impact and greater flexibility in meeting consumer and patient demand throughout the country,” said Tim Keogh, CEO of AmeriCann.
AmeriCann’s manufacturing facility is designed to produce branded consumer packaged goods including cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art facility.
The company plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state operator.
Infused products are becoming an increasingly larger segment of total cannabis sales in regulated markets. According to the Wall Street Journal, “Interest in cannabis as an ingredient in food and drinks in on an upswing; beer brewing giant Constellation Brands, Inc. (NYSE: STZ) recently took a $4 billion stake in Canadian marijuana grower Canopy Growth Corp., (NYSE: CPG) which makes cannabis infused drinks and other products.”
“In Colorado, consumers purchased 12.2 million marijuana infused products in 2017, stated Ben Barton, CFO of AmeriCann. “AmeriCann’s advanced processing and production facility in Massachusetts should play a large role in meeting similar levels of cannabis consumer’s needs in Massachusetts for a consistent supply of a variety of trusted, reliable branded products.”
Industry experts believe that the pending Massachusetts adult-use market, in conjunction with its existing medical program will exceed $1 billion by 2020. As the first approved adult-use cannabis market on the Eastern US, Massachusetts has the potential to become the epicenter for cannabis innovation and research.
About Massachusetts Medical Cannabis Center
Massachusetts Medical Cannabis Center (MMCC), a one million square foot sustainable greenhouse facility in Freetown, Mass. The first phase of the facility is scheduled to open and be ready for cannabis cultivation, processing, and infused product production in the spring of 2019. Once fully developed, the MMCC design calls for a research facility, a training center, corporate offices, a quality-assurance laboratory, and a facility for manufacturing cannabis-infused food, nutraceuticals and consumer packaged cannabis goods. AmeriCann intends to open similar facilities in states in which cannabis is legal for medical and adult use.
AmeriCann (OTCQB: ACAN) is a publicly traded agricultural technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art cannabis cultivation and processing properties.
AmeriCann uses greenhouse technology which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25 percent fewer light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis and to social and environmental ethics, transparency and accountability.
AmeriCann, Inc. is a Certified B Corp, an acknowledgment of the Company’s commitment to social and environmental ethics, transparency and accountability. AmeriCann became the first public cannabis company to earn this respected accreditation. More information about the Company is available at: www.americann.co, or follow AmeriCann on Twitter @ACANinfo.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Registration Statement on Form S-1, which the Company recently filed with the SEC and which may be viewed at www.sec.gov.
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