TEMPE, AZ--(NewMediaWire - Mar 22, 2016)
- American Green, Inc. (OTC
PINK: ERBB) today announced that it has it signed a
Purchase Agreement for a Class A building in Tempe, Arizona that
will be a prime location for a Medical Marijuana Dispensary it will
lease to one of its license holder clients.
"As previously reported in December of last year, American Green
received approval from the City of Tempe to purchase the building
for the purpose of leasing it to an AZDHS license holder for use as
a medical marijuana dispensary," says Jonathan Miller, American
Green CEO. "The required zoning to operate a dispensary in this
building was approved in advance of a moratorium preventing further
dispensary openings in Tempe for at least a year." Tempe is
home to Arizona State University.
"This will be the only MMJ dispensary in a Class A building in
the greater Phoenix area. The surrounding cities of Tempe,
Chandler and Ahwatukee will provide the bulk of clients for the
dispensary. It has easy on/off access from I-10. The area is
underserved and should generated substantial revenue based on
existing patient counts in the area," Miller continued. "There
are several dispensaries in town generating more than one million
dollars per month in revenues. It is important to note that
currently all cannabis products produced in the state of Arizona
are sold -- there is not a surplus of material or
medicine. The best product sells first and drives repeat,
loyalty purchases. American Green's Master Grower, Alfred
Hermiz, will be directing cultivation in the Phoenix facility and
we are confident in his ability to produce top quality product with
which, this dispensary should be able to reach similar sales
numbers."
"With this acquisition, American Green takes another important
step toward the fulfillment of its stated plan of investing in
assets, improving those assets, and deriving income from those
assets. In addition to rent revenues, the Company is
contracted to participate in the management of the cultivation and
dispensary to the extent allowed by law. This model is being
repeated in other states and furthers American Green's goal of
becoming a national brand as well as positioning American Green
within the changing legal landscape to one day secure its own
licenses for production, distribution, and sales of legal marijuana
products," concludes Miller.
Be sure to visit the company's website at www.americangreen.com and sign up for the
company's EMAIL ALERTS to stay current
on news and be alerted when the next CEO Conference for ERBB
shareholders is happening.
Shareholders and interest holders may also stay current with
American Green Updates by going to the American Green website
at www.americangreen.com, or by going directly
to http://americangreen.com/contact-us to
sign up.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters
discussed in this press release contain forward-looking statements
that involve risks and uncertainties, including those described in
the Company's Securities and Exchange Commission reports and
filings. Certain statements contained in this release that are not
historical facts constitute forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995,
and are intended to be covered by the safe harbors created by that
Act. Reliance should not be placed on forward-looking statements
because they involve unknown risks, uncertainties and other
factors, which may cause actual results, performance or
achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as
estimates, anticipates, projects, plans, expects, intends,
believes, should and similar expressions and by the context in
which they are used. Such statements are based upon current
expectations of the Company and speak only as of the date made. The
Company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on
which they are made.
About American Green, Corp.
American Green, Corp., became, in 2009, one of
the first publicly traded technology companies in the cannabis
industry, Now, with over 50,000 individual shareholders, more than
any other company in the cannabis sector, American Green's mission
is to lead the cannabis industry. Leveraging our team of
professionals in cultivation, manufacturing, extraction, wholesale,
retail, and community outreach, we strive to develop sustainable
initiatives, while increasing shareholder value, and company
profit.