AG has already tried to play that game before, but with everything from this company it was a lie. Terra owns a bunch of dispensaries, they setup sub LLC's and have them run the dispensary. No toxic debt either.
American Green Buys Premium Dispensary Property in Tempe, Arizona
TEMPE, AZ--(Marketwired - May 10, 2016) - American Green, Inc. (OTC PINK: ERBB) is pleased to announce that a significant acquisition of real estate will be the home of the first American Green co-managed Medical Marijuana dispensary in the State of Arizona.
"This is the first Class A building in the state that will open as a medical marijuana dispensary. It is approved for use by the city of Tempe and this property will be the last location approved in Tempe until the city imposed moratorium is lifted," stated Jonathan Miller, American Green CEO. "Combined, these two factors will favor our licensed clients in the industry. We've succeeded in one of the first major promises we made since our pivot at the end of 2015 to position American Green as deep into the marijuana market as legally permitted by law."
There are more than 85,000 medical marijuana patients in the state and the bulk of them are in metro Phoenix. This Tempe location is two blocks off I-10 just south of Hwy 60 with easy access to Phoenix, Tempe, Ahwatukee, Chandler, Gilbert and Mesa. Click here for Google Maps link. Competition is sparse in the area and we believe that the location's attributes will attract patients to the dispensary.
Minor renovations are needed to complete what will be needed for final DHS inspection prior to opening. We are pursuing an expedited schedule for this and expect the location to be open for business within 90 days. We will announce the grand opening to the public and to our shareholders as we get closer to the date. This is a tremendous accomplishment for our company and we are excited to report that the company will be able to generate income to the company in several ways -- all within the laws of the State of Arizona.
Sales projections and net from operations for this location will be above average. We are happy to report that this location has a tremendous potential for generating revenue. Other dispensaries in the Valley with less favorable frontage and street access generate more than $500,000 dollars per month. This acquisition will tie into the completion of our cultivation operation where our goal is to provide the dispensary with cannabis product that would be classified as "exceedingly far above the norm." We expect our knowledge in the industry to lay the groundwork for our dispensary operation and to provide the very "best of the best" in flower or high-end extraction products.
ERBB shareholders should begin to see the fruits of the Company's efforts. We believe that American Green's future lies in bringing value in the form of:
Net from operations for licensee management agreements;
Branding opportunities; and
Rent rolls to American Green.
Our goal has been to achieve revenues whereby monthly overhead will be covered coupled with a concerted effort to substantially reduce existing debt as soon as possible.
"A dispensary is half of the equation. We're looking forward to talking more about the other half -- the Phoenix cultivation facility -- as construction continues toward completion of one of the most advanced "grows" in the country," Miller continued. "Our model of buying assets, improving assets, and deriving income from these assets has moved from concept to reality with this dispensary property purchase. We will continue to track down and convert these strategic positioning and branding opportunities for the benefit of shareholders and the industry in general."
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