AmeriCann Comments on New Federal Medical Cannabis Policies
Newly Signed $1 Trillion Spending Bill Includes Key Protections
for Medical Cannabis
Safeguards for State Laws that Have Passed Medical Cannabis
Initiatives
DENVER, CO / Accesswire / May 10, 2017 / AmeriCann, Inc.
(OTCQX: ACAN), an Agricultural-Technology
company that is developing sustainable, state-of-the-art medical
cannabis cultivation properties discussed the recently enacted
federal spending bill and its implications for medical
cannabis.
President Donald Trump on Friday signed a $1.1 trillion
bill that includes a provision that is intended to prevent the
Justice Department, including the Drug Enforcement Administration,
from using funds to arrest or prosecute patients, caregivers, and
businesses that are acting in compliance with state medical
marijuana laws.
It is significant that the very first piece of major legislation
signed into law by the new administration protects medical
marijuana patients and the states that have approved medical
cannabis, stated AmeriCann CEO Tim Keogh. The continuation of
bipartisan policies that preserve patient access to cannabis is
very positive.
Section 537 of the Consolidated Appropriations Act, 2017 states
that, None of the funds made available in this Act to the
Department of Justice may be used, with respect to any of the
(regulated) Statesto prevent any of them from implementing their
own laws that authorize the use, distribution, possession, or
cultivation of medical marijuana.
Congress appears to be growing increasingly comfortable with
states adopting their own marijuana policies, said Robert Capecchi,
director of federal policies for the Marijuana Policy Project.
The provision that allows states to implement their own cannabis
laws was first approved by the House in May 2014. The provision
stems from an amendment originally sponsored by Rep. Dana
Rohrabacher (R-CA) and former Rep. Sam Farr (D-CA). Congress has
extended the current version of the Rohrabacher Farr Amendment thru
September 2017, but many experts agree that the upcoming 2017
spending bill will continue with the established cannabis
protections.
AmeriCann 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 which will be developed in
phases and is expected to be one of the most technologically
advanced cultivation facilities in the nation.
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 (OTCQX: ACAN) is a publicly traded Ag-Tech company that
is developing and sustainable, state-of-the-art medical cannabis
cultivation properties. 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 tenants 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