DENVER, CO / ACCESSWIRE / October 24, 2019 / AmeriCann, Inc. (OTCQB:ACAN), a cannabis company that has developed state-of-the-art cultivation, processing and product manufacturing facilities, announced today that Tim Keogh, its CEO, will moderate a panel at the Cannabis Advancement Series (CAS) at UMass Dartmouth. The event is being held on October 26, 2019, at the UMass Dartmouth Charlton College of Business at 285 Westport Road, Dartmouth, MA, from 5:30-9:30 pm.
Mr. Keogh will be leading a focused discussion on promoting innovation and inclusion in the cannabis industry. Panelists will consist of representatives from cannabis businesses that have built these values into their framework and work to make the industry a diverse and progressive space.
The keynote speaker will be Chairman Steve Hoffman from the Massachusetts Cannabis Control Commission, who will cover the Commonwealth's commitment to social equity, veteran entrepreneurship, and social justice.
AmeriCann recently completed Building 1 of the Massachusetts Cannabis Center (MCC), a state-of-the-art cannabis cultivation and processing development in the midst of the rapidly growing Massachusetts cannabis market. The MCC 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 facilities in the nation.
Building 1 is a 30,000 square foot cultivation and processing facility, 100% of which will be occupied by Bank, Inc. AmeriCann has a 15-year Joint-Venture partnership with Bask, Inc. which provides AmeriCann with a 15% Revenue Participation Fee of all products produced at Building 1. For a recent update on MCC construction, follow this LINK.
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. Since November 1st, 2018, Massachusetts recreational dispensaries have sold more than $316 million worth of cannabis products. Annual recreational retail sales are expected to total $1.3 billion - $1.6 billion, according to Marijuana Business Daily.
AmeriCann (OTCQB: ACAN) is a cannabis company that is developing cultivation, processing and product manufacturing facilities.
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 lights, 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.
AmeriCann is also designing GMP Certified cannabis extraction and product manufacturing infrastructure. Through a wholly-owned subsidiary, AmeriCann Brands, Inc., the Company intends to secure licenses to produce cannabis infused products including beverages, edibles, topicals 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.
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 complete and is scheduled to commence cannabis cultivation, processing, and infused product production in the fall 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 in new markets as a licensed multi-state operator (MSO).
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.
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SOURCE: AmeriCann, inC.