AmeriCann Engages Campanelli Construction to Build MMCC
Finalizing Design Plans for One of the Largest and Most Technologically Advanced Cannabis Cultivation Facilities in the Nation
Plans to Break Ground on the First Phase in the First Quarter of 2017
DENVER, CO / December 20, 2016 / AmeriCann, Inc. (OTCQX: ACAN), a company that is developing sustainable, state-of-the-art medical cannabis cultivation properties, has retained Campanelli Construction as the General Contractor for the Massachusetts Medical Cannabis Center (the “MMCC”).
Campanelli is a third generation, full-service commercial real estate development and acquisition company. The company has over six decades of successful experience having developed, built and acquired over 22 million square feet of property. Campanelli has set a precedent for executing multi-market development of highly specialized real estate, providing design-build services for clients throughout the country.
AmeriCann plans to develop the property as the Massachusetts Medical Cannabis Center, one of the largest and most technologically advanced cannabis cultivation facilities in the nation. Designs for the MMCC include the construction of sustainable greenhouse cultivation, processing, and infused product facilities that will be leased or sold to Registered Marijuana Dispensaries under the Massachusetts Medical Marijuana Program. AmeriCann’s Cannopy System uniquely combines expertise from traditional horticulture, lean manufacturing, regulatory compliance and cannabis cultivation to create superior facilities and procedures.
“Campanelli proved to be an invaluable resource for our project in Massachusetts. We are confident in having such a knowledgeable local partner with national expertise and look forward to replicating this success by working with Campanelli on future projects throughout the nation,” stated AmeriCann CEO Tim Keogh. Campanelli provided AmeriCann with its vertically-integrated real estate services including brokerage, development and construction management.
AmeriCann acquired the rights to the 53-acre property in Freetown earlier this year. The sustainable greenhouse project will consist of multiple planned phases; the first phase will include two buildings at 130,000 and 30,000 square feet, respectively. Future phases are permitted for an additional 800,000+ square feet based on market demand.
AmeriCann plans to break ground on the first phase in the first quarter of 2017 and AmeriCann’s Preferred Partners will have cannabis in production on the property by fall of 2017.
“Campanelli has a long history of constructing institutional grade commercial and industrial real estate throughout the nation. The MMCC brought us together for what we hope is a long, successful relationship with AmeriCann providing them our construction management services. The MMCC will establish a prototype for best-in-class cultivation facilities that we will replicate with AmeriCann as a design-build service throughout the country,” stated Campanelli partner Rob DeMarco.
Massachusetts voters approved a ballot measure on November 8, 2016 that will make it the first state in the eastern U.S. to legalize the recreational use of marijuana. On December 15, 2016 the ballot initiative became law and recreational marijuana is now legal in Massachusetts.
The regulated cannabis industry is expected is to be 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.
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 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 potential of the project consists of a 160,000 square feet of cultivation and processing infrastructure. AmeriCann can expand the first phase based on patient demand without any disruption to the ongoing operations.
In October, AmeriCann completed the acquisition of the 53-acre Massachusetts property from Boston Beer Company (SAM-NYSE) for $4,475,000 cash.
Established in 1947, Campanelli is a third generation, full-service commercial real estate development and acquisition company with extensive experience in the industrial, office, medical office, warehouse/distribution, retail, educational and cold storage markets. Campanelli began building homes during WWII and transitioned from residential to commercial real estate in the 1960’s. The team, known for their seamless ability to work with their clients and act as the “real estate division” of a company, has developed 11 business parks in Massachusetts, over 20 million square feet across the nation and provided international development consulting and site selection services. The company’s signature capabilities include land development, design and build, redevelopment and value-added acquisitions. It is Campanelli’s all-encompassing and quality services that have led to its successful track record as a highly-regarded developer; from site selection, feasibility analysis, local, state and federal permitting, to architectural, engineering, design, building construction and property management. For more information, visit our new website at Campanelli.com.
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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