Business
American Cannabis Company, Inc. Receives Approval from Colorado’s Marijuana Enforcement Division (MED) and the City of Colorado Springs to Acquire, Own, and Operate Naturaleaf™ in Southern Colorado
American Cannabis Company, Inc. Receives Approval from Colorado’s Marijuana Enforcement Division (MED) and the City of Colorado Springs to Acquire, Own, and Operate Naturaleaf™ in Southern Colorado.
About this update from American Cannabis Company, Inc.
[{"type":"text","content":"\n DENVER, CO, May 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC” or “Company”) is pleased to announce that on April 30, 2021, Colorado’s Marijuana Enforcement Division (MED) and the City of Colorado Springs granted regulatory approvals for the Company’s acquisition and operation of Medihemp, LLC, and its wholly owned subsidiary SLAM Enterprises, LLC, and Medical Cannabis Caregivers, Inc., all doing business as Naturaleaf™, a long-standing vertically integrated cannabis business. As a result of the regulatory approvals and the closing of the asset purchase, the Company acquired Naturaleaf’s three medically licensed retail stores, and a 10,000 square foot cultivation and extraction facility located in the metropolitan area of Colorado Springs. Naturaleaf™ has earned a strong reputation for its quality products and customer experience, having served its loyal and growing patient base since 2009. “We are incredibly happy to have completed this acquisition, and this is only the beginning,” said Terry Buffalo, Chief Executive Officer of American Cannabis Company. Buffalo continued, “With the approval from the regulatory bodies now behind us, this is where the real work starts. Brand integration is key for success, and our team is working diligently to dial in processes and procedures, as well as implementing ACC’s company culture and core values, while also maintaining Naturaleaf™ brand integrity. We look to expand production capacities by revamping the cultivation operation, adding technology and equipment, including our proprietary cultivation methodologies and ‘just add water’ all-natural potting mix, SoHum Living Soils®, to effectively grow a consistent, high-value flower product. In addition to the modifications we plan to make in the back of the house, we also aim to elevate the retail experience by adding best-in-market products, new retail equipment and technologies to maximize customer/patient experience, as well as maintain consistent inventories. With this acquisition we anticipate over $2mm+ in gross revenue, and we look to increase upon that. For more details, please read the Company’s most recent 8-K filings.” Scott Saunders, owner of Naturaleaf™, c...