Statement about Extension to Commencement of Adult-Use in Massachusetts
Statement by AmeriCann CEO, Tim Keogh, about extension to commencement of Massachusetts recreational use of marijuana program
AmeriCann, Inc. (OTCQX: ACAN) respects the need to create a safe and responsible regulatory structure for adult-use cannabis in Massachusetts, and appreciates that the legislature is taking a thoughtful approach to the implementation of this law, while also respecting the will of the voters.
In addition to our involvement with the Massachusetts cannabis industry our team has first-hand experience with Colorado’s adult-use program and understands the importance of establishing rules and regulations that are effective and reasonable.
The approval of Question 4 is not simply an extension of the Medical-Use of Marijuana Program; an entirely new regulatory structure needs to be created.
Massachusetts has the opportunity to become a model for other states that are considering or choose to adopt regulation over prohibition.
Our team looks forward to working with the Legislature to establish a regulatory structure that works for the citizens of Massachusetts under this new timeline.
AmeriCann, Inc. (OTCQX: ACAN) 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.
On December 28th, 2016, The Massachusetts House and Senate passed a six-month extension in the retail sale of marijuana for recreational use by cannabis shops from Jan. 1, 2018, until July 1, 2018.