The Company has Completed Over 70% of Building 1 which is Scheduled for Completion in August 2019
DENVER, CO / ACCESSWIRE / April 30, 2019 / AmeriCann, Inc. (OTCQB: ACAN), a cannabis company that is developing state-of-the-art cultivation, processing and product manufacturing facilities, today announced construction is progressing rapidly and on schedule at its flagship project, the Massachusetts Cannabis Center (MCC).
The MCC is being developed on a 52-acre parcel located in Southeastern Massachusetts. The MCC project is permitted for 987,000 sq. ft. of cannabis cultivation and processing infrastructure for the existing medical cannabis and the newly emerging adult-use cannabis marketplace.
Building 1 of the MCC, a 30,000 square foot cultivation and processing facility, is scheduled to be completed in August of 2019. The building's exterior and greenhouse are largely complete, and interior construction of utilities, drywall, irrigation systems, environmental controls and security systems are close to completion.
AmeriCann has a 15-year Joint Venture Partnership with Bask, Inc., an existing Massachusetts licensed vertically integrated cannabis operator. AmeriCann will receive a Revenue Participation Fee of 15% of Gross Revenue on all products produced and sold from Building 1.
Top: Rendering of MCC Building 1; Bottom:Building 1 complete exterior<_o3a_p></_o3a_p>
The Massachusetts cannabis market has some of the highest prices in the United States, with wholesale prices reaching $4,000 per pound and retail prices greater than $7,000 per pound. Building 1 is projected to annually produce 7,500 pounds of dry flower cannabis and over 400,000 units of infused products. AmeriCann projects a 1.5 year payback on its investment in Building 1.
"While most cannabis cultivation facilities in the U.S. are converted from existing warehouses, the MCC is being built from the ground up and designed to maximize efficiency," said Tim Keogh, CEO of AmeriCann. "The MCC is designed with our proprietary Cannopy system which combines facility design with superior operating procedures that deliver a premium product at a lower cost."
The company's Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. AmeriCann uses hybrid-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 lights, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. Massachusetts has some of the highest energy costs in the nation, providing an even greater advantage to the MCC.
AmeriCann plans to replicate the brands, technology and innovations developed at its MCC project to new markets as a licensed multi-state operator (MSO).
Installation of high-pressure sodium lightsin MCC Building 1<_o3a_p></_o3a_p>
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. According to the Cannabis Control Commission, Massachusetts recreational dispensaries have sold more than $76 million worth of cannabis products since recreational sales began in November 2018. Annual recreational retail sales are expected to total $1.3-1.6 billion in a few years, according to Marijuana Business Daily estimates.
About AmeriCann
AmeriCann (OTCQB: ACAN) is a cannabis company that is developing cultivation, processing and product manufacturing facilities.
AmeriCann uses greenhouse technology for cannabis cultivation and is designing GMP Certified cannabis extraction and product manufacturing infrastructure. Through a wholly-owned subsidiary, AmeriCann Brands, Inc., the Company intends to secure licenses to cultivate cannabis and produce cannabis infused products including beverages, edibles, topicals, vape cartridges and concentrates. AmeriCann Brands, Inc. plans to operate a Marijuana Product Manufacturing business at the Massachusetts Cannabis Center with over 40,000 square feet of state-of-the art extraction and product manufacturing infrastructure.
More information about the Company is available at: www.americann.co, or follow AmeriCann on social media: @ACANinfo on Twitter, @AmeriCann on Facebook, @AmeriCannInc on Instagram, AmeriCann, Inc on LinkedIn.
About Massachusetts Cannabis Center
Massachusetts Cannabis Center (MCC), 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 summer of 2019. Once fully developed, the MCC 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 plans to replicate the brands, technology and innovations developed at its MCC project to new markets as a licensed multi-state operator (MSO).
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 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.
Contact Information:
Corporate:
AmeriCann, Inc.
1550 Wewatta Street
2nd Floor
Denver, CO 80202
(303) 862-9000
info@americann.co
www.americann.co
@ACANinfo on Twitter
@AmeriCann on Facebook
@AmeriCannInc on Instagram
AmeriCann, Inc on LinkedIn
Media:
Teak Media + Communication
Sarah Gledhill
sarah@teakmedia.com
(617) 269-7171
(978) 844-1746
Investors:
(917) 658-7878
IR@StratConAdvisory.com
SOURCE: AmeriCann, Inc.
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