AmeriCann’s Massachusetts Cannabis Cultivation Center Unaffected by Recent Election

The Company’s 52-Acre Development Will Not Be Impacted by the City of Freetown’s Vote to Prohibit Adult-Use Storefronts

DENVER, CO / ACCESSWIRE / March 27, 2018 / AmeriCann, Inc. (OTCQB: ACAN), an Agricultural-Technology company that is developing the next generation of sustainable, state-of-the-art cannabis cultivation properties, today announced that the recent election in the Town of Freetown, Massachusetts imposing a prohibition on adult-use cannabis storefronts will have no impact on the Company’s cannabis cultivation and processing development.

AmeriCann is developing the Massachusetts Medical Cannabis Center (“MMCC”) in Freetown, where the project has received significant support and approvals for the project. Several examples of this support include:

Unanimous Site Plan Approval for the entire 52-acre property
A unanimous Letter of Support from the Town by the Freetown Board of Selectmen
A Host Community Agreement between AmeriCann and Freetown
A building permit from the Town for the first phase of the development

“The plans for MMCC have never included any storefront sales on the 52-acres and have always focused cultivation and processing activity,” stated AmeriCann president Tim Keogh. “The Company’s Preferred Partner for the initial building in the project is an existing cannabis licensee with an established, operating storefront in Fairhaven, MA, approximately 20 miles from Freetown.”

The Company plans to add additional Preferred Partners to the MMCC development as the cannabis market in the Commonwealth matures. All of these future partners will have approved retail operations in their respective cities, while cannabis cultivation and processing will be conducted at the state-of-the-art facilities in Freetown.

Many experts believe that Massachusetts will be one of the strongest markets in the country when recreational cannabis sales commence. Much of this opinion is based on the fact that in 2017 cannabis sales in Colorado surpassed $1.5 billion, while Massachusetts has more than 1,300,000 additional residents. Massachusetts has established a July 1, 2018 date for the implementation of its Adult-use cannabis program, the first in the Northeast to do so.

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.

About Massachusetts Medical Cannabis Center (MMCC)

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. Voters in Massachusetts approved legalizing the adult use of recreational marijuana in November of 2016. The state is on track to open the first cannabis storefronts for Adult-Use by July 1, 2018, making Massachusetts the first state in the Northeast to legalize cannabis.

AmeriCann’s Cannopy 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 Canopy platform in additional states.

The first phase of the project consists of 160,000 sq. ft. of cultivation and processing infrastructure. AmeriCann can expand the first phase to approximately 600,000 sq. ft., based on patient demand.

About Solanna

AmeriCann has developed and owns “Solanna”, a new comprehensive line of nutraceutical-grade cannabis infused products. AmeriCann has created the brand, packaging concepts and invested significantly in Standard Operating Procedures and Good Manufacturing Practices to ensure safety, consistency and efficacy across the product offering.

The intellectual property for Solanna will be licensed by AmeriCann to regulated cannabis businesses and will initially focus on providing healthier alternatives to smoking that include:

Capsules
Topical lotions and balms
Sublingual tinctures
Oral dissolving film
Trans-dermal applications

The Company plans to expand the product line to include edible products, health drinks, and branded concentrates. The products are designed to allow consumers to manage dosage through micro-dosing and to improve efficacy by incorporating blends of other plants, essential oils and other supplements that enhance and compliment the benefits of cannabis.

The Solanna line of products will be offered exclusively through AmeriCann’s Preferred Partners.

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 recently filed Registration Statement on Form S-1, which the Company has filed with the SEC and which may be viewed at 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

SOURCE: AmeriCann, Inc.

ReleaseID: 494378