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ACAN Completes Greenhouse Structure at Flagship Massachusetts Cannabis Center
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Building 1 of the Cultivation and Processing Development is scheduled to be fully operational in Summer 2019
(Denver, CO)— AmeriCann, Inc. (OTCQB: ACAN), a cannabis company that is developing state-of-the-art cultivation, processing and product manufacturing facilities, today announced the completion of the greenhouse exterior of Building 1 at the Massachusetts Cannabis Center (MCC).
AmeriCann’s construction of the MCC project has progressed rapidly, and Building 1, a 30,000 square foot cultivation and processing facility, is scheduled for completion in the summer of 2019. AmeriCann has a Joint Venture Partnership with Bask, Inc. that will operate Building 1 in a 15-year partnership. The Building 1 project cost is in excess of $7,500,000 and is expected to create 30 new direct jobs in the area. More than a dozen companies have been retained for construction of the facility, which is being overseen by CBRE on behalf of AmeriCann.
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 lights, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. The company’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive.
Building 1 is projected to annually produce 7,500 pounds of dry flower cannabis and over 400,000 units of infused products.
“We developed our Cannopy System and designed the MCC to produce clean, high-quality cannabis,” says Tim Keogh, CEO of AmeriCann. “The completion of the greenhouse exterior represents an important milestone for us and reaffirms our commitment to sustainable cultivation and processing.”
The Massachusetts Cannabis Center is being developed on a 52-acre parcel located in Southeastern Massachusetts. The MCC project is permitted for 987,000 sq. ft. of cannabis cultivation and processing infrastructure, which will be developed in phases support both the existing medical cannabis and the newly emerging adult-use cannabis marketplace.
AmeriCann plans to replicate the brands, technology and innovations developed at its MCC project to new markets as a licensed multi-state operator (MSO).
As the first approved adult-use cannabis market on the Eastern U.S., Massachusetts has the potential to become the epicenter for cannabis innovation and research. According to the Cannabis Control Commission, Massachusetts recreational dispensaries have sold more than $45 million worth of cannabis products since recreational sales began in November 2018. Annual recreational retail sales are expected to total $1.3-1.6 billion in a few years, according to Marijuana Business Daily estimates.
About AmeriCann
AmeriCann (OTCQB: ACAN) is a cannabis company that is developing cultivation, processing and product manufacturing facilities.
AmeriCann uses greenhouse technology for cannabis cultivation and is designing GMP Certified cannabis extraction and product manufacturing infrastructure. Through a wholly-owned subsidiary, AmeriCann Brands, Inc., the Company intends to secure licenses to cultivate cannabis and produce cannabis infused products including beverages, edibles, topicals, vape cartridges and concentrates. AmeriCann Brands, Inc. plans to operate a Marijuana Product Manufacturing business at the Massachusetts Cannabis Center with over 40,000 square feet of state-of-the art extraction and product manufacturing infrastructure.
More information about the Company is available at: www.americann.co, or follow AmeriCann at @ACANinfo on Twitter, @AmeriCann on Facebook, @AmeriCannInc on Instagram, AmeriCann, Inc on LinkedIn.
About Massachusetts Cannabis Center
Massachusetts Cannabis Center (MCC), is a one million square foot sustainable greenhouse facility in Freetown, Mass which is being developed by AmeriCann. The first phase of the facility is scheduled to open and be ready for cannabis cultivation, processing, and infused product production in the summer of 2019. Once fully developed, the MCC 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 plans to replicate the brands, technology and innovations developed at its MCC project to new markets as a licensed multi-state operator (MSO).
Forward-Looking Statements
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.
Contact Information:
Corporate:
AmeriCann, Inc.
1550 Wewatta Street
2nd Floor
Denver, CO 80202
(303) 862-9000
info@americann.co
Media:
Teak Media + Communication
Sarah Gledhill
(978) 844-1746
