Marijuana - Companies & Stocks

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$ACAN Massive marijuana greenhouse could sprout in Mass.

A rendering (pic) of a 1 million-square-foot marijuana greenhouse and processing center AmeriCann Inc. hopes to build in Freetown.

By Dan Adams Globe Staff  October 25, 2016

On the eve of a vote that could legalize recreational marijuana in Massachusetts, a Colorado company is preparing to build the state’s largest marijuana greenhouse, a sprawling, high-tech complex that could eventually grow to nearly 1 million square feet.

Denver-based AmeriCann Inc. completed a deal last week to lease a 53-acre parcel for the project near Route 24 in Freetown, where officials have welcomed the company’s proposed Massachusetts Medical Cannabis Center as a potential economic boon.

The facility, to be built in phases over several years, was designed to bolster the state’s struggling medical marijuana program. But if voters here decide to legalize the sale of marijuana for recreational use by adults, AmeriCann expects to speed up construction and would likely rent some of its cultivation space to a retailer of recreational cannabis.

“Adult-use changes the timeline of the project,” AmeriCann chief executive Tim Keogh said. “It’s definitely part of the conversation with investors now, more so than it had been 12 or 24 months ago.”

AmeriCann is currently raising funds for construction and hopes to break ground in about three months on the project’s first phase, a $20 million, 160,000-square-foot greenhouse the company said would more than double the state’s current cannabis-growing capacity. Construction would last about nine months.

“We’re very excited about getting this land developed, realizing the economic impact on the local area, and helping patients in Massachusetts,” Keogh said.

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