AmeriCann has completed a $2,000,000 all equity private placement consisting of stock and warrants.
The proceeds will be utilized for the company’s Massachusetts Medical Cannabis Center (MMCC) development, to pursue new opportunities in California, Pennsylvania, Florida and other states, and general corporate purposes.
AmeriCann recently completed the purchase of a 53-acre Massachusetts property from Boston Beer Company for $4,475,000 cash. The company plans to develop the property as the Massachusetts Medical Cannabis Center, one of the largest and most technologically advanced cannabis cultivation facilities in the nation. The MMCC 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.
The first phase plans for MMCC are based on demand from the existing medical market. The company has plans for an early spring groundbreaking and first cannabis production in fall of 2017.
For more information:
AmeriCann
3200 Brighton Blvd. Unit 114
Denver, CO 80216
(303) 862-9000
[email protected]
www.americann.co
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