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American Cannabis Company, Inc. Announces Execution of Non-Binding Letter of Intent for Strategic Acquisition of a 60,000-sq.-ft. Cannabis Cultivation and Extraction Operation in Denver, Colorado

https://www.otcmarkets.com/stock/AGOL/news/American-Cannabis-Company-Inc-Announces-Execution-of-Non-Binding-Letter-of-Intent-for-Strategic-Acquisition-of-a-60000-s?id=286998

Press Release | 01/21/2021

DENVER, CO, Jan. 21, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”) is pleased to announce that it has successfully executed a non-binding letter of intent (LOI) with Andina Gold Corporation (OTCQB: AGOL) to purchase assets of its Good Meds and BOSM Labs operating division, a fully licensed cultivation and extraction operation in Colorado offering premium cannabis and cannabis extracts to the wholesale and retail medical and recreational markets. Assets are to include one cultivation operation and one hydrocarbon extraction laboratory and production center. All assets to be acquired will operate out of a 60,000-square-foot facility, centrally located in Denver, Colorado. Currently, only 50,000 square feet of space are being utilized, with 10,000 square feet of additional open space ready and available for the Company to use as it looks to scale up operations.

Since 2009, the Good Meds brand has cultivated and provided top-tier cannabis flower products to medical patients and recreational consumers in Colorado. BOSM Labs carries a strong reputation as a high-end manufacturer of well-known hydrocarbon-extracted cannabis products. Combined under one roof, these brands act as one of few long-standing and major contenders in the maturing Denver market.

Christopher Hansen, Chief Executive Officer of Andina Gold Corporation, commented: “We are pleased with the non-binding letter of intent with American Cannabis Company, and look forward to working with Terry Buffalo and his team to complete the transaction. The dedicated, consistently excellent work of Good Meds and BOSM Labs personnel has been the driver of their excellent reputation. We also appreciate the steady leadership through this transitional period provided by Amanda Price and John Haugh. We feel confident the impressive work of Good Meds and BOSM Labs will continue as we hand over the keys to American Cannabis Company.”

Terry Buffalo, Chief Executive Officer and Chief Financial Officer of American Cannabis Company, commented, “This is another strategic move for ACC. Officially having secured two non-binding LOIs to date, ACC will soon integrate three retail dispensaries and a total of 70,000 square feet of combined cultivation and extraction operations. The due diligence process for Good Meds and BOSM Labs has begun, and we anticipate this to close in Q2 of 2021. We analyzed many opportunities both here in Colorado as well as in other states, and we ultimately chose to focus on the Colorado market initially. This approach will allow us to improve existing operational processes, refine our workflow and deploy an operational management platform that we can use as we branch out to other regions of the country.”

About American Cannabis Company, Inc.

American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. We are continuing to grow the company by promoting our operational management services and license the American Cannabis Company brand as well as continuing to analyze acquisition opportunities worldwide. American Cannabis Company also developed and owns a portfolio of branded products including: SoHum Living Soils® – Winner of the High Times S.T.A.S.H. Award for “Best Potting Mix,” The Cultivation Cube™ and the High-Density Cultivation System™. American Cannabis Company also designs and provides other industry-specific custom product solutions.

For more information about American Cannabis Company, please visit:

www.theacclife.com

www.americancannabisconsulting.com
www.americancannabiscompanyinc.com
www.sohumsoils.com

www.americanhempservices.com

Video Links:

https://americancannabisconsulting.com/resources/video/ (ACC Site)

(High Density Cultivation System)

(Cultivation Cube)

(SoHum Living Soils®)

About Good Meds

Founded in 2009, Good Meds medical cannabis dispensaries in Englewood and Lakewood, Colorado offer affordable access to premier cannabis for registered Colorado medical cannabis patients. The company’s carefully curated genetics are grown using the highest quality ingredients, to address a full spectrum of medical ailments. Good Meds generates revenue through its retail sales as well as wholesale products sold to non-Good Meds retail outlets in the recreational market. Good Meds supports the growth of the cannabis industry and abides by responsible business practices. The Good Meds assets were acquired by Andina Gold Corp. in 2019. For more information on Good Meds, please visit: https://www.goodmeds.com/.

About BOSM Labs

Serving the Colorado market since 2017, BOSM Labs balances science and art to produce quality-first, boutique extracts sold at both medical and recreational cannabis outlets. BOSM’s single-source concentrates begin with an artisan cultivation team and end with pronounced flavors that truly capture the essence of the flower at harvest. For more information on BOSM Labs, please visit: https://www.goodmeds.com/bosm-labs/.

Contact:
[e-mail]

303-974-4770

[e-mail]

303-222-8092