(Denver, CO)—PRESS RELEASE—AmeriCann, Inc., a cannabis enterprise that is establishing state-of-the-art cultivation, processing and item manufacturing facilities, has announced the completion of the greenhouse exterior of Developing 1 at the Massachusetts Cannabis Center (MCC). 

AmeriCann’s building of the MCC project has progressed swiftly, and Developing 1, a 30,000-square-foot cultivation and processing facility, is scheduled for completion in the summer season of 2019. AmeriCann has a Joint Venture Partnership with Bask, Inc. that will operate Developing 1 in a 15-year partnership. The Developing 1 project price is in excess of $7,500,000 and is anticipated to build 30 new direct jobs in the location. Additional than a dozen organizations have been retained for building of the facility, which is becoming overseen by CBRE on behalf of AmeriCann. 

AmeriCann makes use of greenhouse technologies, which is superior to the present market common of expanding cannabis in warehouse facilities below artificial lights. According to market authorities, by capturing all-natural sunlight, greenhouses use 25 % fewer lights, and utility bills are up to 75 % significantly less than in common warehouse cultivation facilities. The company’s Cannopy Method enables cannabis to be made with a considerably lowered carbon footprint, generating the final item significantly less pricey.

Developing 1 is projected to annually make 7,500 pounds of dry flower cannabis and more than 400,000 units of infused goods.

“We created our Cannopy Method and developed the MCC to make clean, higher-excellent cannabis,” says Tim Keogh, CEO of AmeriCann. “The completion of the greenhouse exterior represents an essential milestone for us and reaffirms our commitment to sustainable cultivation and processing.”

The Massachusetts Cannabis Center is becoming created on a 52-acre parcel situated in Southeastern Massachusetts. The MCC project is permitted for 987,000 square feet of cannabis cultivation and processing infrastructure, which will be created in phases assistance each the current health-related cannabis and the newly emerging adult-use cannabis marketplace.

AmeriCann plans to replicate the brands, technologies and innovations created at its MCC project to new markets as a licensed multi-state operator (MSO).

As the very first authorized adult-use cannabis industry on the Eastern U.S., Massachusetts has the prospective to grow to be the epicenter for cannabis innovation and analysis. According to the Cannabis Manage Commission, Massachusetts recreational dispensaries have sold extra than $45 million worth of cannabis goods due to the fact recreational sales started in November 2018. Annual recreational retail sales are anticipated to total $1.three-1.six billion in a handful of years, according to Marijuana Company Everyday estimates.