Americann Inc (ACAN)

[MMJwizard]

Significant news in Massachusetts is great for ACAN's project.

https://finance.yahoo.com/news/americann-benefit-cannabis-regulations-massachusetts-123000003.html

AmeriCann to Benefit from New Cannabis Regulations in Massachusetts with Greenhouse Project Ready for Construction

Conference Committee Reach Agreement on Cannabis Regulations in Massachusetts

Adult Use Sales on Track to Commence July 1, 2018, Making Massachusetts a Regional Destination for Cannabis on the East Coast

DENVER, CO / ACCESSWIRE / July 18, 2017 / AmeriCann, Inc. (OTCQX: ACAN), an Agricultural-Technology company that is developing the next generation of sustainable, state-of-the-art medical cannabis cultivation properties, announced today that the Massachusetts House and Senate Conference Committee have approved a safe and responsible regulatory structure for adult-use cannabis in Massachusetts. The legislature has taken a thoughtful approach to the implementation of this law.

In November of 2016, Massachusetts voters approved a ballot measure that makes it the first state in the eastern U.S. to legalize the adult use of marijuana. The Commonwealth has an existing medical marijuana program that was approved in 2012 with only 12 vertically-integrated operators growing and selling medical cannabis. According to industry experts, the combined market for both the medical and new adult program could exceed $1.8 billion annually at maturity.

Company CEO Tim Keogh stated, "The legalization of cannabis for all adults in Massachusetts significantly expands the need for the infrastructure to serve both patients and consumers. With nearly 1,000,000 square feet approved for development, AmeriCann can provide the type of sustainable, efficient, consistent and reliable cultivation facilities that are essential to serve the citizens of Massachusetts. We view the progress of the bill as a very positive development for our MMCC project in Freetown."

In addition to AmeriCann's involvement with the Massachusetts cannabis industry the team has first-hand experience with Colorado's adult-use program and understands the importance of establishing rules and regulations that are effective and reasonable. AmeriCann's staff and advisors have been working directly with the Legislature over the last 7 months to establish a regulatory structure that works for the citizens of Massachusetts. Massachusetts has the opportunity to become a model for other states that are considering or choose to adopt regulation over prohibition.

The bill now moves back to the House and the Senate for a vote, up or down but with no amendments, and if approved moves to the Governor's desk for signature.

Besides Massachusetts, California, Maine, and Nevada also voted to legalize Adult Use marijuana in November 2016. Nevada is the only state that has set a regulatory structure and commenced sales. In the first weekend of Adult Use sales in Nevada, earlier this month over $500,000 in tax revenue was generated for the State and dispensaries were experiencing long lines and shortages of products for the 47 dispensaries that were open.

AmeriCann's flagship project, the Massachusetts Medical Cannabis Center ("MMCC"), is 47 miles from Boston in the midst of the rapidly growing Massachusetts medical cannabis market. The MMCC project 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.

About AmeriCann

AmeriCann (OTCQX: 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.

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.