AmeriCann Brands has Commenced the Process for Obtaining a Marijuana Product Manufacturing License in Massachusetts
DENVER, CO / ACCESSWIRE / November 14, 2018 / AmeriCann, Inc. (OTCQB: ACAN ), an agricultural-technology company that is developing the next generation of eco-friendly state-of-the-art greenhouse cannabis cultivation and processing properties, announced today the formation of AmeriCann Brands, Inc. a wholly owned subsidiary for the purpose of obtaining a Consumer Packaged Goods (CPG) manufacturing license in Massachusetts.
AmeriCann Brands will manufacture both branded and white-label cannabis products at the Massachusetts Medical Cannabis Center (MMCC) upon the grant of a license. The consumer packaged goods include cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art campus. AmeriCann Brands will provide extraction and product manufacturing support to the entire MMCC project, as well as to other licensed cannabis farmers throughout Massachusetts.
AmeriCann Brands will occupy and operate a 40,178 square foot extraction and product manufacturing business located in Building 2 of the MMCC upon award of the license. The configuration of Building 2 includes more than 100,000 square feet of warehouse space for processing, manufacturing and administration and approx. 245,000 sq. ft. of cultivation infrastructure. The dedicated cultivation facilities are designed to use Cannopy, AmeriCann’s proprietary greenhouse system.
“To meet the growing demand from both consumers and patients in Massachusetts and the U.S., we are expanding our business model from a focus on being a specialized real estate developer and into the cannabis product manufacturing business,” said AmeriCann CEO Tim Keogh. Keogh will be at the Marijuana Business Daily Conference in Las Vegas this week, along with other executives from AmeriCann.
AmeriCann plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state licensed operator.
Industry experts believe that the pending Massachusetts adult-use market, where retail shops are expected to open by the end of November, in conjunction with its existing medical program will exceed $1 billion by 2020. 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.
About Massachusetts Medical Cannabis Center
Massachusetts Medical Cannabis Center (MMCC), 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 spring of 2019. Once fully developed, the MMCC 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 intends to open similar facilities in states in which cannabis is legal for medical and adult use.
AmeriCann (OTCQB: ACAN ) is a publicly traded agricultural technology (Ag-Tech) that is developing a new generation of sustainable, state-of-the-art cannabis cultivation and processing properties.
AmeriCann plans to provide extraction and product manufacturing support to the entire MMCC project, as well as to other licensed cannabis farmers throughout regulated markets. In addition to large-scale extraction of cannabis plant material, AmeriCann plans to produce branded consumer packaged goods including cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art facility.
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 light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs.
The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis and to social and environmental ethics, transparency and accountability.
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 .
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SOURCE: AmeriCann, Inc.