Business
ACAN Launches $5M Secured Convertible Note Offering
ACAN Launches $5M Secured Convertible Note Offering.
About this update from Americann Inc.
[{"type":"text","content":"\n \n \n \n \n\n\nMedical\ncannabis property developer initiates private placement for Massachusetts\ndevelopment\n\n\n\nDENVER,\nCO / ACCESSWIRE / July 29, 2016 / AmeriCann, Inc. (ACAN-OTCQX), a company that designs and plans to develop\nand lease sustainable, state-of-the-art medical cannabis cultivation properties,\nhas engaged a Colorado-based investment banking firm to commence a $5 Million\nsecured convertible note offering. \n\n\n\nThe\ncompany plans to use the proceeds from the offering to purchase land and to\nprepare for construction of its large-scale, sustainable medical cannabis\nproduction facility known as the Massachusetts\nMedical Cannabis Center (MMCC) to be built 47 miles from Boston. The\ncompany does not cultivate, process, distribute or sell cannabis. This business\nmodel provides AmeriCann greater flexibility to pursue national and international\ndevelopment opportunities.\n\n\n\n“Our\nenergy efficient sustainable cultivation facilities are designed to deliver the\nbest quality, consistent cannabis-based medicine that patients need and\ndeserve.” said Tim Keogh, President and CEO of AmeriCann. “Our goal is to set a\nnew standard for the industry with better products, reduced energy and water\nuse and overall efficiency.”\n\n\n\nThe\nCompany has signed a definitive agreement with Coastal\nCompassion Inc., one of a limited number of licensed cannabis\noperators in Massachusetts. The MMCC development is planned to serve the rapidly\ngrowing Massachusetts medical cannabis program, widely regarded as among the\nmost attractive in the national cannabis industry. Coastal Compassion, Inc. will become MMCC’s\ninitial tenant upon completion of the first phase of 130,000 square feet, with one\nadditional building location available to another licensed Massachusetts\ncannabis operator.\n\n\n\nAmeriCann’s\n506(c) Private Offering provides accredited investors the opportunity to\nparticipate in one of the fastest growing industries, with an attractive yield\nthat is secured by real estate. \n\n\n\nAmeriCann\nis offering Secured Convertible Promissory Notes at a price of $25,000 per Unit\nfor a total of $5,000,000. \n\n\n\nEach\nUnit Includes:\n\n\n\n• \nA $25,000 Note from AmeriCann, Inc.\n\n• \n9.5% annual interest paid quarterly\n\n•  ...