AmeriCann Secures First Tenant for its Massachusetts Medical Cannabis Center
Definitive Agreement with Medical Marijuana Licensee for up to 600,000 Square Feet of the Approved 1 Million Square Foot Facility
Boston, Massachusetts and Denver, Colorado /Accesswire/April 14, 2016 –AmeriCann, Inc. (OTCQX Markets: ACAN), a company that designs and develops and owns advanced medical cannabis facilities, today announced that it has signed a definitive agreement with Coastal Compassion, Inc. for the first phase in the Massachusetts Medical Cannabis Center (MMCC). The MMCC 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. Coastal Compassion finalized agreements to occupy the first phase of the project that consists of an initial 130,000 square feet of cultivation and processing infrastructure. AmeriCann can expand the first phase to approximately 600,000 square feet, for Coastal Compassion based on patient demand.
The MMCC facility has been designed utilizing AmeriCann’s proprietary system known as “Cannopy.” AmeriCann has drawn on its team’s extensive experience in traditional horticulture, lean manufacturing, medical research, facility construction, regulatory compliance, security, cannabis cultivation and genetics, extraction techniques, and infused product development.
JoAnne Leppanen, Executive Director of Coastal Compassion, stated, “We are honored to join AmeriCann’s Preferred Partner Program and become the initial tenant of the Massachusetts Medical Cannabis Center. As a non-profit committed to providing high quality, affordable medical cannabis to Massachusetts patients we take great pride in the fact that the MMCC will allow us to produce medicine using less energy and have a reduced environmental impact.”
AmeriCann’s sustainable greenhouse designs are more energy efficient than traditional indoor warehouse facilities that rely exclusively on artificial lighting. This can lower utility bills by up to 75%. Also, harnessing natural sunlight is the best energy source for plants.
The MMCC is the only approved medical cannabis greenhouse facility in the Commonwealth.
Coastal Compassion is one of a limited number of non-profit organizations that has received a provisional or final registration to cultivate, process and sell medical cannabis by the Massachusetts Department of Public Health.
In addition to building a state-of-the-art cultivation facility at the MMCC, AmeriCann will also provide Coastal Compassion with support to complete its approved dispensary in Fairhaven, Massachusetts.
“Coastal Compassion is the ideal first tenant for the MMCC,” stated Ben Barton, Founder and Chairman of AmeriCann. “We share a commitment to serving patients and understand that advanced greenhouse technology is crucial to producing the most consistent and sustainable medicine.”
The Massachusetts Medical Use of Marijuana Program, which was approved by voters in 2012 by a wide margin, continues to be one of the premier regarded markets by industry experts even with the first dispensaries having only recently opened.
A ballot initiative to allow for full marijuana legalization has received the necessary signatures and is expected to be on the November 2016 ballot for Massachusetts voters. “The state (Massachusetts) could become one of the biggest regulated cannabis markets in the country; bigger than Colorado and Washington State.” according to Marijuana Business Daily.
AmeriCann, Inc. designs, develops and owns advanced medical cannabis facilities to produce the best possible medical cannabis in most efficient manner utilizing advanced, sustainable practices. The Company has over 1,000,000 square feet of facilities in various stages of development. AmeriCann does not cultivate, process or distribute cannabis, but partners with local business to serve marijuana patients in their communities. More information about the Company is available at: http://americann.co
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 risks and 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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