New Adult Use Program Establishes Massachusetts as a Regional
Destination for Cannabis on the East Coast
DENVER, CO / Accesswire / July 31, 2017 / AmeriCann, Inc.
(OTCQX: ACAN), an Agricultural-Technology
company that is developing next generation sustainable,
state-of-the-art medical cannabis cultivation properties, announced
strong support for the landmark adult use cannabis bill signed by
Massachusetts Governor Charlie Baker on July 28, 2017.
The new law implements the successful ballot measure approved by
voters in November of 2016. Massachusetts it the first state in the
eastern U.S. to legalize the adult use of marijuana.
AmeriCanns flagship project, the Massachusetts Medical Cannabis
Center (MMCC), is 47 miles from Boston in the midst of the rapidly
growing Massachusetts medical cannabis market. The MMCC project is
approved for 1 million square feet, which will be developed in
phases and is expected to be one of the most technologically
advanced cultivation facilities in the nation.
We believe Massachusetts will be a dynamic developing cannabis
market for many years, and that our MMCC project will become a
center of excellence for quality, consistency and efficiency and
play an important part in helping to provide the cannabis
infrastructure the Commonwealth will require, commented AmeriCann
CEO Tim Keogh. Our Company made a commitment in 2014 to make a
major investment in the future of the Massachusetts cannabis market
and it appears to have been a very good decision, continued Mr.
Keogh.
The Commonwealth currently lacks the infrastructure to support
the anticipated demand. According to the Denver Post Massachusetts has
only several hundred thousand square feet of cultivation
infrastructure, but will require several million additional square
feet.
Based on our first hand experience in Colorado we believe the
bill Governor Baker signed is well-drafted and will usher in an
exciting new industry in the Commonwealth that will have a number
of benefits, added Tim Keogh, a Massachusetts native and President
and CEO of Colorado-based AmeriCann.
As the industry develops it will create thousands of new jobs,
hundreds of millions in much needed tax revenue and provide
welcomed medical and other benefits for the residents of
Massachusetts. And while tax revenue is what people focus on, the
job creation is in many ways the more important driver for the
economy, continued Mr. Keogh.
Colorado implemented a program for adult use cannabis in 2014
and the results have exceeded all projections with 2017 cannabis
sales in Colorado on a pace to exceed $1.5 billion, with tax
contributions of over $250 million.
Massachusetts introduced a voter approved medical cannabis
program in 2014 that has resulted in over 40,000 registered
patients and is expected to generate over $100 million in sales in
2017. Industry experts believe with the addition of adult use, the
Massachusetts cannabis market will expand to over $1.6 billion by
2021.
Besides Massachusetts, California, Maine, and Nevada also voted
to legalize adult marijuana in November 2016. Nevada is the only
state that has set a regulatory structure and commenced sales. In
the first weekend of Adult-Use sales in Nevada its new program
generated over $500,000 in tax revenue for the state and
dispensaries were experiencing long lines and shortages of products
for the 47 dispensaries that were open.
About AmeriCann
AmeriCann (OTCQX: 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 companys 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.
AmeriCanns 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 160,000 sq. ft. of
cultivation and processing infrastructure. AmeriCann can expand the
first phase to approximately 600,000 sq. ft., based on patient
demand.
About Solanna
AmeriCann has developed and owns Solanna, a new comprehensive
line of nutraceutical-grade cannabis infused products. AmeriCann
has 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
compliment the benefits of cannabis.
The Solanna line of products will be offered exclusively through
AmeriCanns Preferred Partners.
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 Companys
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.
Contact Information:
Corporate:
AmeriCann, Inc.
3200 Brighton Blvd. Unit 114
Denver, CO 80216
(303) 862-9000
info@americann.co
www.americann.co
@ACANinfo on Twitter
Investors:
Hayden IR
hart@haydenir.com
(917) 658-7878