ACAN Completes Successful 3-Year Partnership with CO Licensee
AmeriCann Completes Successful 3-Year Partnership with Licensed Colorado Cannabis Producer
DENVER, CO / June 5, 2017 / AmeriCann, Inc. (OTCQX: ACAN), an Agricultural-Technology company that is developing the next generation of sustainable, state-of-the-art medical cannabis cultivation properties, announced today it has completed a very successful three year partnership with a licensed Colorado cannabis producer that has resulted in exceptional returns to the company.
In 2014, AmeriCann contributed $1,000,000 in secured funding for the final design and construction of a 15,000 square foot state-of-art cultivation and processing facility in Denver, CO. AmeriCann’s Preferred Partner, 4900 Jackson, LLC, has been a licensed medical cannabis producer in Colorado since 2010.
With the final payment made in May of 2017, AmeriCann received total distributions over the term of the agreement of $1,457,000 from consulting fees, interest and principal repayment. The average annual returns exceeded 15% over the 3 years.
“Our partnership with AmeriCann has been excellent,” stated John Ray, managing partner of 4900 Jackson, LLC. “I learned first-hand of AmeriCann’s commitment to developing the most efficient, technologically advanced cannabis cultivation facilities possible. The innovations in cultivation technology that AmeriCann has developed for its development in Massachusetts are the future of the industry.”
“We are extremely pleased with our partnership with 4900 Jackson, LLC. The financial returns were excellent for our shareholders. As an early-mover in the Colorado market our team gained invaluable first-hand knowledge with innovative cultivation systems and the market dynamics from the most mature regulated market in the nation,” commented Tim Keogh, President and CEO of AmeriCann. “In 2016, Colorado was a $1.2 billion market, which continues to grow, and to participate in such a dynamic market was an excellent experience that we will continue to leverage in new markets throughout the country.”
AmeriCann’s flagship project, the Massachusetts Medical Cannabis Center (“MMCC”), is 47 miles from Boston in the midst of the rapidly growing Massachusetts medical cannabis market. The MMCC project is approved for 1 million square feet, which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation. The company is planning to replicate the Cannopy platform in additional states.
AmeriCann (OTCQX: ACAN) is a publicly traded Agricultural Technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art medical cannabis cultivation and processing properties. The Company has over 1,000,000 square feet of facilities in the planning and design stages of development.
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
About Massachusetts Medical Cannabis Center (MMCC)
The Massachusetts Medical Cannabis Center is approved for nearly 1,000,000 square feet of medical cannabis cultivation and processing in Freetown, Massachusetts. The state-of-the-art, sustainable, greenhouse project will consist of multiple planned phases for tenants in the Massachusetts medical marijuana market.
AmeriCann’s Cannopy System uniquely combines expertise from traditional horticulture, lean manufacturing, regulatory compliance and cannabis cultivation to create superior facilities and procedures.
The first phase of the project consists of 160,000 sq. ft. of cultivation and processing infrastructure. AmeriCann can expand the first phase to approximately 600,000 sq. ft., based on patient demand.
AmeriCann has developed and owns “Solanna”, a new comprehensive line of nutraceutical-grade cannabis infused products. AmeriCann has created the brand, packaging concepts and invested significantly in Standard Operating Procedures and Good Manufacturing Practices to ensure safety, consistency and efficacy across the product offering.
The intellectual property for Solanna will be licensed by AmeriCann to regulated cannabis businesses and will initially focus on providing healthier alternatives to smoking that include:
- Topical lotions and balms
- Sublingual tinctures
- Oral dissolving film
- Trans-dermal applications
The Company plans to expand the product line to include edible products, health drinks, and branded concentrates. The products are designed to allow consumers to manage dosage through micro-dosing and to improve efficacy by incorporating blends of other plants, essential oils and other supplements that enhance and compliment the benefits of cannabis.
The Solanna line of products will be offered exclusively through AmeriCann’s Preferred Partners.
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 Annual Report on Form 10-K for the year ended September 30, 2016, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.
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