Business
American Green Creates Colorado Subsidiary and Formalizes the Union With Herbal Elements for a Legal Cannabis Grow and Extraction Operation
American Green Creates Colorado Subsidiary and Formalizes the Union With Herbal Elements for a Legal Cannabis Grow and Extraction Operation.
About this update from American Green, Inc.
[{"type":"text","content":"\n \n \n American Green Creates Colorado Subsidiary and Formalizes the Union With Herbal Elements for a Legal Cannabis Grow and Extraction Operation\n \n \nAmerican Green Creates Colorado Subsidiary and Formalizes the Union With Herbal Elements for a Legal Cannabis Grow and Extraction Operation\n \n TEMPE, AZ--(Marketwired - Jul 7, 2015) - American Green, Inc. (OTC PINK: ERBB) announced today that it has successfully completed the formation of American Green - Colorado Inc., a corporation formed in Colorado for the purpose of advancing the deal first announced to shareholders and the public in September of 2014. Herbal Elements will bring local licensing, relationships, knowledge and its corporate assets to the deal. American Green will support the build-out with it's proprietary technologies such as Truth Lighting and TrackX for the general expansion of CBD-rich cannabis strains. In addition, the Herbal Elements' location will serve as a flagship business to demonstrate what American Green and its subsidiaries have to offer to the cannabis industry as well as serve as the company's R&D facility. Within two years, company management believes it can achieve a .5% market penetration in the Colorado extraction technology segment which, based on 2014 state-wide reported revenues for legal cannabis, would be as much as $1,750,000. \n \"Every acquisition completed or contemplated by our company is with an eye toward strengthening our core business opportunities and developing a seed-to-sale strategy for the MMJ industry. Our facility in Eagle/Vail will be used to define an industry-leading solution for states, municipalities, and growers. Herbal Elements is in a great position to help us solidify our strategies,\" says American Green president, Steph Shearin. \"In addition, extraction and manufacturing is clearly where the best margins reside in the industry, even for companies like ours who can't yet actively participate in sales. Being deeply involved through a state-specific subsidiary is a must for revenues and ultimately shareholder value.\"\n \"The focus on high CBD strain medical marijuana is an area we have seen develop rapidly as a result of specific strains being used for anti-spasmodic applications, at the very least. The use of these kinds of CBD-rich strains of cannabis has been shown to improve the lives of people. R...