AmeriCann to Benefit from New Cannabis Regulations in
Massachusetts with Greenhouse Project Ready for Construction
Conference Committee Reach Agreement on Cannabis Regulations in
Massachusetts
Adult Use Sales on Track to Commence July 1, 2018 Making
Massachusetts a Regional Destination for Cannabis on the East
Coast
DENVER, CO / InvestorsHub NewsWire / July 18, 2017
/ AmeriCann, Inc. (OTCQX: ACAN), an Agricultural-Technology
company that is developing the next generation of sustainable,
state-of-the-art medical cannabis cultivation properties, announced
today that the Massachusetts House and Senate Conference Committee
have approved a safe and responsible regulatory structure for
adult-use cannabis in Massachusetts. The legislature has taken a
thoughtful approach to the implementation of this law.
In November of 2016, Massachusetts voters approved a ballot
measure that makes it the first state in the eastern U.S. to
legalize the adult use of marijuana. The Commonwealth has an
existing medical marijuana program that was approved in 2012 with
only 12 vertically-integrated operators growing and selling medical
cannabis. According to industry experts, the combined market for
both the medical and new adult program could exceed $1.8 billion
annually at maturity.
Company CEO Tim Keogh stated, The legalization of cannabis for
all adults in Massachusetts significantly expands the need for the
infrastructure to serve both patients and consumers. With nearly
1,000,000 square feet approved for development, AmeriCann can
provide the type of sustainable, efficient, consistent and reliable
cultivation facilities that are essential to serve the citizens of
Massachusetts. We view the progress of the bill as a very positive
development for our MMCC project in Freetown.
In addition to AmeriCanns involvement with the Massachusetts
cannabis industry the team has first-hand experience with
Colorado's adult-use program and understands the importance of
establishing rules and regulations that are effective and
reasonable. AmeriCanns staff and advisors have been working
directly with the Legislature over the last 7 months to establish a
regulatory structure that works for the citizens of Massachusetts.
Massachusetts has the opportunity to become a model for other
states that are considering or choose to adopt regulation over
prohibition.
The bill now moves back to the House and the Senate for a vote,
up or down but with no amendments, and if approved moves to the
Governors desk for signature.
Besides Massachusetts, California, Maine, and Nevada also voted
to legalize Adult Use 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 earlier this
month over $500,000 in tax revenue was generated for the State and
dispensaries were experiencing long lines and shortages of products
for the 47 dispensaries that were open.
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.
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