Business
American Green, Inc.™ (OTC:ERBB) Projects $10 Million in Additional Annual Revenue from its New Cannabis Operation
American Green, Inc.™ (OTC:ERBB) Projects $10 Million in Additional Annual Revenue from its New Cannabis Operation.
About this update from American Green, Inc.
[{"type":"text","content":"\n When fully operational, the new facility projects 500% more annual revenue. PHOENIX, AZ, May 06, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Today, American Green, Inc. (ERBB:OTC) signed a lease with an option to buy a 35,100 square foot building located in Phoenix, Arizona, and is expected to generate $10 million in annual revenue when fully operational.  The additional revenue is approximately 500% more annual revenue than American Green’s current $2 million annual revenue.  The new facility will house a state-of-the-art kitchen for the manufacture of premium edible and concentrate cannabis products. Interior design will incorporate a two-tiered layout designed to maximize revenue as well as square footage. American Green’s lease starts with an initial 5 years and includes an option for renewal for three more 5-year terms along with an option to purchase the building within 2 years of the lease start date.  This is the second cannabis operation for ERBB in its home state of Arizona. The new location is just a few miles from its current “Sweet Virginia” Grow Facility.  The new building is zoned “Commercial A-1” which is the appropriate zone to operate as a Cannabis Grow, subject to approval from the City of Phoenix.  American Green plans to employ approximately 35 people for the new development. David G. Gwyther, American Green’s president, commented, “Utilizing every square foot of space strategically and efficiently will be a priority for us as we build out our newest facility. Our prime goal will be to create a state-of-the-art facility designed to exceed our estimate of adding $10 million a year in annual corporate revenues.” The American Green laboratory will be producing top-tier concentrate offerings within its first year of operation. Medical and recreational users can look forward to what has already been established as the 2nd most desired cannabis product, “Live Resin,” “Diamonds and Sauce,” “Budder,” and “Applesauce” consistencies – each one of them produced using American Green’s proprietary in-house grown selection of cannabis genetics. As a follow up to an earlier news, Chef Dee Russell A.K.A. “Edible Dee\" and “The Happy Chef” will be instrumen...