AmeriCann Discusses White House Press Secretarys Comments on
Medical Cannabis
DENVER, CO -- February 24, 2017 -- InvestorsHub NewsWire
-- AmeriCann, Inc. (OTCQX:
ACAN), an Ag-Tech company that is developing sustainable,
state-of-the-art medical cannabis cultivation properties discussed
Thursdays White House regular news briefing.
AmeriCann has reviewed the Press Secretary's comments, in
response to a reporters question, related to the enforcement of
federal regulations and the cannabis industry. Management is
encouraged that the White House has acknowledged its support for
state regulated medical marijuana programs.
Press Secretary Sean Spicer affirmed the Presidents support for
medical cannabis and noted that states are entitled to regulate
medical marijuana in accordance with state law.
Since inception, AmeriCann has been focused onserving the
regulated medical marijuana industry.
AmeriCann, an Ag-Tech company, is developing a 53-acre property
in Massachusetts as the Massachusetts Medical Cannabis Center (the
MMCC). The MMCC is approved for 1 million square feet and is
expected to be one of the most technologically advanced cultivation
facilities in the nation.
The Massachusetts Medical Cannabis Center in Freetown,
Massachusetts was designed and is being developed to support the
medical cannabis industry. AmeriCann does not expect any impact to
the development schedule of MMCC to have infrastructure open by the
end of 2017.
Given that our current plans are exclusively for serving the
medical market, a change in federal policy regarding the
non-medical market, as Press Secretary Spicer suggested, would have
no impact on our project or company.
With the passage of the Adult Use ballot initiative in November,
the Commonwealth of Massachusetts is not expecting regulations,
licensing and commencement of Adult-Use cannabis sales to commence
until the middle of 2018. There is not an existing regulated
Adult-Use market in Massachusetts.
Massachusetts Governor Charlie Baker stated in the Boston Globe on Thursday that,
The voters of Massachusetts have spoken on this issue when they
approved recreational use in November, and emphasized the Baker
administration will continue to work to move forward with the new
law.
Medical cannabis sales made up $437 million dollars in total
sales during 2016 in Colorado. It is a significant segment of
the overall cannabis industry. Massachusettss medical cannabis
market is just starting to develop and is expected to be comparable
in size to Colorado when mature.
A Quinnipiac University Poll released
on February 23rd, 2017 shows that 93% of Americans support medical
marijuana. With the results of the November 2016 election results,
over 60% of the US Population now live in states where medical
cannabis is now legal. Of the 28 states that have implemented legal
cannabis programs, only 8 have approved Adult-Use.
About AmeriCann
AmeriCann is a publicly traded Ag-Tech company that plans to
develop sustainable, state-of-the-art medical cannabis cultivation
properties throughout the country. The Company has over 1,000,000
square feet of facilities in the planning and design stages of
development. The Company has designed a proprietary line of
cannabis infused products which will be branded and licensed to
companies in regulated markets.
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
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 licensed businesses 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 first phase of the project consists of 130,000 sq. ft. of
cultivation and processing infrastructure. AmeriCann can expand the
first phase to approximately 600,000 sq. ft., based on patient
demand.
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
Annual Report on Form 10-K for the year ended September 30, 2016,
which the Company has filed with the SEC and which may be viewed at
http://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