$ACAN Good post Davidsson10, Company Receives Unanimous Approval of Agreement for the 1,000,000 Square Foot Cultivation Development in Freetown
DENVER, CO / ACCESSWIRE / December 1, 2016 / AmeriCann, Inc.
(OTCQX: ACAN), a company that is developing sustainable, state-of-the-art medical cannabis cultivation properties, has secured a Host Community Agreement ("HCA") with the Town of Freetown for its Massachusetts Medical Cannabis Center ("MMCC") project.
The HCA adds significant value to the MMCC project by documenting a supportive relationship between the Town of Freetown and the 1 million square foot development.
On November 28th, 2016 the Board of Selectmen unanimously approved the Host Community Agreement for AmeriCann's MMCC project. The Massachusetts Medical-Use of Marijuana Program requires operators to secure letters of support or non-opposition from the host communities.
As the developer of the project, AmeriCann has obtained the Host Community Agreement which streamlines the application process and creates a competitive advantage for tenants at the MMCC.
Massachusetts voters approved a ballot measure that will make it the first state in the eastern U.S. to legalize the recreational use of marijuana. The Commonwealth has had a medical marijuana program that was approved in 2012.
According to industry experts, the combined market for both the medical and new adult program could exceed $1.8 billion annually.
AmeriCann recently completed the acquisition of a 53 acre Massachusetts property from Boston Beer Company (SAM-NYSE) for $4,475,000 in cash.
The Company plans to develop the property as the Massachusetts Medical Cannabis Center (the "MMCC") which is expected to be one of the largest and most technologically advanced cannabis cultivation facilities in the nation.
AmeriCann recently completed a $2 million all equity financing that will be utilized in part for the Company's Massachusetts Medical Cannabis Center development and to pursue new opportunities in California, Pennsylvania, Florida and other states.
