Denver, CO – On July 31, 2014 the Company closed on an all cash purchase of a five-acre parcel of land located in north central Denver, Colorado. The total purchase price for the property was $2,250,000. The Company plans to develop the property as a facility called the “Denver Cannabis Center.” The property is currently zoned for cannabis cultivation and processing by the City and County of Denver.
The Denver Cannabis Center will be designed to include 125,000 square feet of greenhouse and indoor cultivation areas. The Company plans to sell these facilities to one or more licensed cannabis entrepreneurs. Additional plans for the Denver Cannabis Center include a dispensary, a research facility, a training center, an infused product production facility and corporate offices.
In developing the Denver Cannabis Center, the Company plans to utilize the most innovative and advanced cultivation methods available. The Company believes that through effective design and optimal practices, its clients and partners can achieve greater efficiency, product quality and the highest level of environmental standards.
The Company plans to build the Denver project as a prototype for development of comparable facilities in other states that allow for and regulate cannabis. To complete the project as planned, the Company will need to receive all necessary government approvals as well as additional capital.
The Company does not cultivate, process or sell cannabis.
About AmeriCann:
AmeriCann Inc. (OTCQX: ACAN), with corporate offices in Denver and Boston, is a publicly traded company that delivers an essential set of services to the rapidly developing regulated cannabis industry. Utilizing the extensive experience of its accomplished management team, AmeriCann provides real estate development, research, consulting and capital to the medical marijuana industry. The size of the marijuana industry is estimated to be $1.2 billion and is projected to reach $10.2 billion by 2018.
AmeriCann has deployed over $3,000,000 in capital in Colorado, and plans to expand throughout the country aggressively as new states approve and regulate medical marijuana. More information about the Company is available at ACANinfo.com.
Forward-Looking Statements:
This press release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved.
Media Contact: AmeriCann, Inc., 303-862-9000 or media@ACANinfo.com
