ACAN is a Title Presenter at NYREJ’s Cannabis CRE Summit
“Cannabis in Commercial Real Estate NYC” will be hosted at the Trump SoHo New York
DENVER, CO / April 20, 2017 / AmeriCann, Inc. (OTCQX: ACAN), an Ag-Tech company that is developing sustainable, state-of-the-art medical cannabis cultivation properties, announced today that it will be a Title Presenter at the New York Real Estate Journal’s first cannabis-focused summit. The “Cannabis in Commercial Real Estate Summit NYC” will be held May 4th, 2017at the Trump SoHo New York at 246 Spring Street from 8am-12pm.
The New York Real Estate Journal (NYREJ)is a sister-company of the New England Real Estate Journal. The NEREJ is the largest commercial real estate media company in the world that covers all six New England states and has been in business since 1963.
AmeriCann’s President and CEO, Tim Keogh, will be a panelist, as well as meeting with attendees and investors interesting in participating in the cannabis industry. Mr. Keogh will also discuss the company and the Massachusetts Medical Cannabis Center.
AmeriCann is developing a 53-acre property in Massachusetts (acquired from Boston Beer Company (SAM-NYSE) for $4,475,000 in cash), as the Massachusetts Medical Cannabis Center (the “MMCC”). The MMCC is approved for 1 million square feet and is expected to be one of the largest and most technologically advanced cannabis cultivation facilities in the nation.
The Commercial Real Estate market in the Northeast will undergo significant expansion and revitalization as the Cannabis industry develops throughout the region. According to a September 2015 Market Report conducted by CBRE; “The marijuana industry was a key factor in the industrial sector’s recovery during the current business cycle, accounting for 35.8% of Denver’s total net absorption in industrial space between 2009 and 2014. Marijuana cultivation accounts for at least 3.7 million sq.ft. of occupied industrial space in Denver, or approximately 2.6% of the existing warehouse footprint.”
According to the Marijuana Business Daily Factbook 2016; “Cannabis storefronts average $974 in revenue annually per square foot of space.” This volume of sales puts Cannabis storefronts in the same range as Whole Foods stores and Costco Wholesale stores based on that key financial metric.
The regulated cannabis industry is one of the fastest growing industries in the country. The respected Wall Street firm of Cowen & Co recently released a research report projecting dramatic growth for the industry from the current $7 billion nationally to over $50 billion in ten years.
In the November election Massachusetts, California, Maine, and Nevada voted to legalize adult use marijuana while Arkansas and North Dakota approved medical cannabis initiatives. Florida voters approved medical marijuana in a landslide with over 71% of the vote. With these election results, over 60% of the US population now live in states where medical cannabis is now legal.
Cannabis in Commercial Real Estate Summit NYC
Location: Trump SoHo New York
Date: Thursday, May 4th
Time: 8:00 AM EST / 12:00 PM EST
AmeriCann is a publicly traded company that plans to develop and lease sustainable, state-of-the-art medical cannabis cultivation properties. The Company has over 1,000,000 square feet of facilities in the planning and design stages of development. The Company has designed a proprietary line of cannabis infused products which will be branded and licensed to companies in regulated markets.
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.
About the Massachusetts Medical Cannabis Center
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 130,000 sq. ft. of cultivation and processing infrastructure. AmeriCann can expand the first phase to approximately 600,000 sq. ft., based on patient demand.
About New York Real Estate Journal &New England Real Estate Journal
The 54 year old New England Real Estate Journal (NEREJ), a weekly publication, reaches over 55,000 industry leaders who depend on and receive the most comprehensive and current coverage in commercial/investment real estate today. NEREJ offers 24/7 access to news and all published content, daily e-newsletter, weekly newspaper with a digital edition and monthly specials. The New England Real Estate Journal has also been publishing the New York Real Estate Journal (NYREJ) twice a month for over 25 years.
Primary readership includes: investors, brokers, developers, builders, contractors, owners, auctioneers, bankers, lenders, government agencies, appraisers and property management services and suppliers. Visit https://cre.nerej.com/ for more information.
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, 2015, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.
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