New Facility Allows for 987,000 sq. Ft. of Cannabis Cultivation and Processing Infrastructure
DENVER, CO / ACCESSWIRE / September 12, 2018 / AmeriCann, Inc. (OTCQB: ACAN), an agricultural-technology company that is developing the next generation of eco-friendly start-of-the-art greenhouse cannabis cultivation and processing properties, plans to host a ground breaking celebration for its Massachusetts Medical Cannabis Center (MMCC) on Tuesday, September 25.
AmeriCann designed the MMCC on a 52-acre parcel located in Freetown, Mass. The project allows for 987,000 sq. ft. of cannabis cultivation and processing infrastructure and will be developed in three phases. The ground breaking event will celebrate the first phase of the MMCC construction which will be a 30,000 sq. ft. cannabis cultivation, processing and research facility. AmeriCann plans to complete the first phase of the MMCC by the spring of 2019. Campanelli Construction is the general contractor and CBRE/New England is the project manager for the MMCC.
The first phase of the MMCC project consists of 30,000 sq. ft. of cultivation, processing and research facilities.
"We believe the first of phase will set new standards for the industry and have a big impact for the company moving forward," stated AmeriCann Founder Ben Barton. "The ground breaking signifies the first step in creating a sustainable process to produce clean, quality cannabis."
AmeriCann uses 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 light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann's Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs.
The MMCC will be built to maximize workflow and take advantage of growing plants under natural sunlight which the Company believes produces healthier plants from both cannabinoid and terpene perspectives, making the final product higher in quality.
"Currently, almost all the cannabis being produced in Massachusetts is from converted warehouses with 100 percent artificial light, high energy costs and huge carbon footprints," said Tim Keogh, AmeriCann's Chief Executive Officer. "The MMCC facility is designed to produce superior sun grown cannabis products year-round in a controlled environment at a lower cost. This is the first phase of an extensive project designed to help the Massachusetts cannabis industry reach its full potential."
AmeriCann assists partners to obtain licenses and cultivate medicine in its next generation of eco-friendly state-of-the-art cannabis cultivation facilities and provides essential resources including access to a team of experts, and capital, which has been traditionally hard to obtain for cannabis companies. The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis.
About Massachusetts Medical Cannabis Center
In 2015, AmeriCann realized that Massachusetts did not have adequate cultivation and processing infrastructure in planning or development. With that knowledge, AmeriCann designed the MMCC on a 52-acre parcel of land by securing site plan approval and all the entitlements for 987,000 square feet of cannabis cultivation and processing infrastructure. The MMCC project will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation.
The state-of-the-art, sustainable greenhouse project will consist of multiple planned phases for multiple tenants in the Massachusetts cannabis industry. Voters in Massachusetts approved legalizing the adult use of recreational marijuana in November of 2016 making Massachusetts the first state in the Northeast to legalize adult-use cannabis.
AmeriCann'sCannopy 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 Cannopy platform in additional states.
About AmeriCann
AmeriCann (OTCQB: 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 Company's 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.
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
[email protected]
www.americann.co
@ACANinfo on Twitter
Media:
Teak Media + Communication
Stacy Wilbur
[email protected]
617-269-7171
Investors:
Hayden IR
[email protected]
(917) 658-7878
SOURCE: AmeriCann, Inc.