ERBB Successfully Completes the Expansion of the Phoenix Grow Operation and Dramatically Increases Annual Production
July 22 2020 - 8:50AM
InvestorsHub NewsWire
American Green (OTC:ERBB)
Successfully Completes the Expansion of the Phoenix Grow Operation
and Dramatically Increases Annual Production
PHOENIX, AZ -- July 22, 2020 -- InvestorsHub NewsWire -- American
Green (ERBB:OTC)
announced today that it has successfully achieved 3 complete growth
cycles within its newly created 11th grow room at the company's
"Sweet Virginia" cannabis grow facility, located in Phoenix,
Arizona. According to David Gwyther, president of American
Green, "It is now clear that adding an additional 240 plants into
our 8-week rotation cycle was a great decision. We have increased
our overall canopy space by over 12%. As Sweet Virginia has already
achieved profitability, this expanded capacity greatly contributes
to increased profitability without any significant increase in
overhead."
According to Bryan Croteau, American Green's Vice President of
Cultivation, "Coupling our expansion in capacity with our
previously announced reductions in labor costs, I believe we can
expect an improvement in our year-over-year bottom line by about
23%. That could translate into $350,000 annually, or more depending
on the scale of future efficiencies that are discovered and
implemented in the coming months and years. This new room will
allow for just over 6 harvests every year, which we consider a
substantial increase in return for a minimal investment."
He added, "While developing our new grow room, we also figured out
how to more efficiently utilize our vegetative space, and have now
begun to implement those strategies across all 10 of our previously
existing grow rooms. Additionally, we are now bulk-purchasing
nutrients and additives in larger scale in order to not just
increase revenues, but to do so with a lower cost of goods sold per
room. We believe that we can operate all of our grow rooms,
including our new room, with an increase in total cost of goods
sold of under 3%!"
Mr. Croteau concluded, "This latest set of improvements to quality
and yield will be the largest set of incremental improvements since
the Company began providing medical cannabis to the Arizona
wholesale market back in early 2018. Most
importantly, American Green can employ all of its
collected knowledge when it sets up new grows for its company
licensors or for the time in the future that American
Green is awarded additional new licenses when they become
available in selected states in the future."
If you are an experienced vending route operator serving a major
market and wish to add a complete line of fully legal CBD products
to your existing route, you should contact Mr. Lindel Creed
at American Green's AGM Vending Division located in Gastonia,
North Carolina. You can email Lindel at lindel@americangreen.com or
call him on his direct line at 704-718-3158.
Shareholders and interest holders may also stay current
with American Green Updates:
American Green's Main Website at www.americangreen.com
Twitter: @American__Green (two underscores), or
Facebook: https://www.facebook.com/americangreenusa ;
Instagram: https://www.instagram.com/americangreenusa/ ;
Instagram: https://www.instagram.com/magicalnipton/ ;
About American Green, Inc.
American Green, Inc. became, in 2009, America's second
publicly-traded company in the cannabis industry. American
Green now, with its more than 50,000 individual certified
shareholders, is one of the largest (in shareholder count) in the
cannabis sector. American Green's mission is to lead the
cannabis and premium CBD industry. Leveraging our team of
professionals in cultivation management, manufacturing, extraction,
wholesale, retail, and community outreach, we strive to develop
sustainable initiatives in the cannabis-adjacent and CBD
industries, laser-focused on adding company and shareholder
value.
For more information -
Contact:
American Green, Inc.
Investor Relations
2902 W. Virginia Ave
Phoenix, AZ 85009
480-443-1600 X555
investor@americangreen.com
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, be 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.
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