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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
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.
About this update from American Cannabis Company, Inc.
[{"type":"text","content":"\n 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 dilig...