Massachusetts Medical Cannabis Center Plans Unchanged
DENVER, CO / ACCESSWIRE / January 5, 2018 / AmeriCann, Inc. (OTCQB:ACAN), an Agricultural-Technology company that is developing the next generation of sustainable, state-of-the-art medical cannabis cultivation properties provides its analysis of Attorney General Jeffrey Sessions’ memo issued today regarding federal marijuana enforcement.
The Cole Memo, which had been a DOJ guideline since August of 2013, cleared up some of the uncertainty about how the federal government would respond as states began allowing sales for recreational and medical purposes. It said the Department of Justice would not stand in the way of states that legalize marijuana and outlined the enforcement priorities that were particularly important to the federal government. Earlier today the DOJ rescinded the cannabis guidance outlined in the Cole Memo.
“Cannabis has been regulated successfully at the state level since 1996,” stated Tim Keogh, President and CEO of AmeriCann. “We expected the new leadership within the Department of Justice to implement their own policies. However, we don’t anticipate that the change in policies at the DOJ will significantly impact patients, consumers or businesses that comply with state regulations.”
The cannabis industry has thrived through multiple administrations and has grown exponentially since it was launched over 20 years.
Cowen & Company, the respected Wall Street firm that is a leader in cannabis industry trends and cannabis stocks has released its opinion, “We are not overly concerned that a change in DOJ policy around cannabis will be meaningfully disruptive to legal adult use cannabis states.”
Public polling shows overwhelming support for the end of cannabis prohibition with 92% of voters favoring legal medical cannabis and 64% in favor of full legality.
Support for a change in outdated federal cannabis laws is becoming more popular with members of Congress, including growing support from politicians representing both parties.
The states that have adopted legalization have experienced highly successful results with no increase in crime, reduction in teen use and the creation of thousands of new jobs and taxes.
Mr. Keogh added, “Our shareholders have a particular interest in the potential impact that today’s actions may have on our operations in Massachusetts.” AmeriCann is developing the highly anticipated Massachusetts Medical Cannabis Center (MMCC).
Massachusetts Republican governor Charlie Baker released the following statement, “The Baker-Polito Administration fully supports the will of the voters and the (Cannabis Control Commission) mission,” said a Baker spokesman. “The administration believes this is the wrong decision and will review any potential impacts from policy changes by the local US Attorney’s Office.”
AmeriCann, an Ag-Tech company, is developing a 53-acre property in Massachusetts as the Massachusetts Medical Cannabis Center (the “MMCC”). The MMCC is approved for 1 million square feet and is expected to be one of the most technologically advanced cultivation facilities in the nation.
The Massachusetts Medical Cannabis Center in Freetown, Massachusetts was designed and is being developed to support the medical cannabis industry. AmeriCann does not expect any impact to the development schedule of MMCC.
A Quinnipiac University Poll released in 2017 shows that 93% of Americans support medical marijuana. Over 60% of the US Population now live in states where medical cannabis is now legal. Of the 30 states that have implemented legal cannabis programs, 8 have approved Adult-Use.
The regulated cannabis industry in the United States employs more than 100,000 people, generates hundreds of millions of dollars in tax revenue, and is the solution to the failed war on drugs.
AmeriCann (OTCQB:ACAN) is a publicly traded Agricultural Technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art medical cannabis cultivation and processing properties.
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 or follow AmeriCann on Twitter @ACANinfo
About Massachusetts Medical Cannabis Center (MMCC)
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 company is planning to replicate the Canopy platform in additional states.
The first phase of the project consists of 30,000 sq. ft. of cultivation and processing infrastructure in Building 3 and 130,000 square feet of Building 1. AmeriCann can expand Building 1 to approximately 600,000 sq. ft., based on patient demand.
AmeriCann has developed and owns “Solanna”, a new comprehensive line of nutraceutical-grade cannabis infused products.AmeriCannhas created the brand, packaging concepts and invested significantly in Standard Operating Procedures and Good Manufacturing Practices to ensure safety, consistency and efficacy across the product offering.
The intellectual property for Solanna will be licensed by AmeriCann to regulated cannabis businesses and will initially focus on providing healthier alternatives to smoking that include:
Capsules Topical lotions and balms Sublingual tinctures Oral dissolving film Trans-dermal applications
The Company plans to expand the product line to include edible products, health drinks, and branded concentrates. The products are designed to allow consumers to manage dosage through micro-dosing and to improve efficacy by incorporating blends of other plants, essential oils and other supplements that enhance and complement the benefits of cannabis.
The Solanna line of products will be offered exclusively through AmeriCann’s Preferred Partners.
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 recently filed Registration Statement on Form S-1, which the Company has filed with the SEC and which may be viewed at www.sec.gov.
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SOURCE: AmeriCann, Inc.